WORK Medical Technology Group to Implement 1-for-100 Reverse Stock Split
MT Newswires Live
5 hours ago
WORK Medical Technology Group (WOK) said Wednesday it plans to implement a reverse stock split of its ordinary shares on a 1-for-100 basis, effective Dec. 29.
Every 100 shares of the company's issued and outstanding class A ordinary shares will be combined into one class A ordinary share, and every 100 shares of its issued and outstanding class B ordinary shares will automatically be combined into one class B ordinary share, according to a statement.
The reverse stock split is being done to maintain compliance with the Nasdaq requirement of maintaining a minimum bid price, the company said.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.