Hoth Therapeutics Inc HOTH shares are trading lower by 11.12% to $0.29 during Monday’s after-hours session after the company announced a 1-for-25 reverse stock split.
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Hoth Therapeutics says the split pricing will commence with the opening of trading on October 26.
As a result of the reverse stock split, every 25 shares of issued and outstanding common stock will be exchanged for one share of common stock, with any fractional shares being rounded up to the next higher whole share.
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Hoth Therapeutics says the reverse stock split is primarily intended to bring the company into compliance with Nasdaq’s $1.00 per share minimum bid price requirement for continued listing; however, no assurance can be given that such a reverse stock split will enable the company to regain compliance with the Nasdaq minimum bid price requirement.
According to data from Benzinga Pro, Hoth Therapeutics Inc has a 52-week high of $1.75 and a 52-week low of $0.31.
Image and article originally from www.benzinga.com. Read the original article here.