Aptevo Therapeutics Announces 1-for 37 Reverse Stock Split As Part of Nasdaq Compliance Plan
StockNews.AI • 448 days
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Information
SEATTLE, WA / ACCESSWIRE / November 29, 2024 / Aptevo Therapeutics Inc. (NASDAQ:APVO) ("Aptevo" or t...
Original sourceAI Summary
Aptevo Therapeutics announced a 1-for-37 reverse stock split effective December 3, 2024. The split reduces outstanding shares from 18.5 million to approximately 0.5 million. This measure aims to comply with Nasdaq's $1 minimum bid price requirement. The reverse split was approved by stockholders in October 2024. Adjustments will be made to outstanding options and warrants post-split.
Sentiment Rationale
The reverse stock split indicates management's intent to stabilize share price, reflecting positively on investor confidence in APVO's compliance strategy.
Trading Thesis
The immediate effects will be observed shortly after the split, influencing trading behaviors temporarily.
Market-Moving
- Aptevo Therapeutics announced a 1-for-37 reverse stock split effective December 3, 2024.
- The split reduces outstanding shares from 18.5 million to approximately 0.5 million.
- This measure aims to comply with Nasdaq's $1 minimum bid price requirement.
Key Facts
- Aptevo Therapeutics announced a 1-for-37 reverse stock split effective December 3, 2024.
- The split reduces outstanding shares from 18.5 million to approximately 0.5 million.
- This measure aims to comply with Nasdaq's $1 minimum bid price requirement.
- The reverse split was approved by stockholders in October 2024.
- Adjustments will be made to outstanding options and warrants post-split.
Companies Mentioned
- APVO (APVO)
Corporate Developments
The announcement of a reverse stock split can significantly impact perceptions of stock value and company stability.