Why iBio Stock Is Plunging Sharply

iBio, Inc. IBIO recently approved a 20-to-1 reverse stock split of its common stock, which will take effect on November 29, 2023. This means that every 20 shares of existing stock will be combined into one share, but the total value remains the same.

Fractional shareholders will receive cash payments, and the total outstanding shares will decrease significantly. Stock options, warrants and equity plans will be adjusted accordingly.

The company's transfer agent will provide instructions for exchanging old stock certificates for new ones, while shareholders with shares in brokerage accounts don't need to take action.

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According to data from Benzinga Pro, iBio has a 52-week high of $2.60 and a 52-week low of $0.20.