Orgenesis Announces Reverse Stock Split
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Sep 23 2024
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Source: Newsfilter
Reverse Stock Split Announcement: Orgenesis Inc. has approved a 1-for-10 reverse stock split of its common stock, effective September 24, 2024, to comply with Nasdaq's minimum bid price requirement of $1.00 per share.
Impact on Shareholders: The reverse split will reduce the number of outstanding shares from approximately 47.7 million to about 4.8 million, while maintaining shareholders' percentage ownership, and any fractional shares will be compensated in cash based on the closing price on the effective date.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
