Zinger Key Points
- Tharimmune announced it is undergoing a 1-for-25 reverse stock split of its shares.
- The split means that for every 25 existing shares, shareholders will receive 1 share.
Tharimmune Inc THAR shares are trading lower by 9.7% to $0.19 during Monday's session, pulling back following Friday's strength, after the company announced it is undergoing a 1-for-25 reverse stock split of its shares.
This decision, approved by stockholders in October, will take effect on November 20.
What Else?
The split means that for every 25 existing shares, shareholders will receive 1 share, with any fractional shares rounded up. After the split, Tharimmune will have roughly 700,474 shares.
The aim is to meet Nasdaq's minimum bid price requirement of $1.00 per share for continued listing, but according to the company it's uncertain if this action alone will guarantee compliance.
According to data from Benzinga Pro, THAR has a 52-week high of $0.38 and a 52-week low of $0.14.
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