(RTTNews) - Venus Concept Inc. (VERO) Thursday announced a 1-for-11 reverse stock split of its common stock, effective at 5:00 p.m. EST on March 3. The stock will begin trading on a split-adjusted basis on the Nasdaq Capital Market starting March 4.
The reverse stock split aims to raise the stock's price to meet Nasdaq's listing requirements. Shareholders approved the split in February, allowing a ratio between 1-for-5 and 1-for-16, with the board setting the final terms.
The stock will continue trading under the symbol 'VERO,' and no fractional shares will be issued, with any fractions rounded up to the nearest whole share.
VERO is currently trading at $0.3316 on the Nasdaq.
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