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Matinas BioPharma To Carry Out 1-for-50 Reverse Stock Split On September 3rd, 2024

Moomoo News ·  Aug 31, 2024 07:40

August 30th (Eastern Time) - $Matinas BioPharma (MTNB.US)$ is about to implement a 1-for-50 reverse stock split of shares. The shares will begin trading on a split-adjusted basis from September 3rd, 2024.

$Matinas BioPharma (MTNB.US)$ slipped 9.42% and closed at $0.0933 on August 27th with a turnover of $272.54K. $Matinas BioPharma (MTNB.US)$ now has a total market capitalization of $23.4 million.


What Is a Reverse Stock Split?

A reverse stock split consolidates the number of existing shares of stock held by shareholders into fewer shares. It does not directly impact a company's value. And it can signal a company in distress since it raises the value of otherwise low-priced shares.

Note:

The company's actual implementation is subject to the final disclosure submitted to the exchange. The information provided herein is for reference only.

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