NEWS
22nd Century Announces 1-for-135 Reverse Stock Split
Friday, 13th December at 8:45 am
Mocksville, North Carolina--(Newsfile Corp. - December 13, 2024) - 22nd Century Group, Inc. (NASDAQ: XXII), a tobacco products company that is leading the fight against nicotine and believes smokers should have a choice about their nicotine consumption, today announced that it will effect a reverse stock split of its outstanding shares of common stock, par value $0.00001 per share (the "Common Stock"), at a ratio of 1-for-135, to be effective as of December 17, 2024. The reverse stock split is intended for the Company to regain compliance with the minimum bid price requirement of $1.00 per share of common stock for continued listing on Nasdaq.
Friday, 13th December at 8:45 am
Mocksville, North Carolina--(Newsfile Corp. - December 13, 2024) - 22nd Century Group, Inc. (NASDAQ: XXII), a tobacco products company that is leading the fight against nicotine and believes smokers should have a choice about their nicotine consumption, today announced that it will effect a reverse stock split of its outstanding shares of common stock, par value $0.00001 per share (the "Common Stock"), at a ratio of 1-for-135, to be effective as of December 17, 2024. The reverse stock split is intended for the Company to regain compliance with the minimum bid price requirement of $1.00 per share of common stock for continued listing on Nasdaq.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
Spread kindness and love. Life is short. Don’t let greed eat you.
3699Followers
73Following
41KVisitors
Follow
RENEEDON_ONG : Can you help me to explain stock split.
Jaguar8 OP RENEEDON_ONG : So stock split is consolidating shares of the outstanding shares and also the free float. This is done usually for compliance on listing bid price of at least $1 per share.
Example a company goes 1:10 split. So if a company has 10M free float before split, after split it becomes 1M (10/10). On the other hand the stock orice is multiplied to 10. In the end, it doesn’t change the value of your shares