Artelo Biosciences announced a 1-for-9 reverse stock split of its common stock, with trading to begin on August 31. No fractional shares will be issued, as holders will receive one whole share instead. The company stated the reverse split is intended to increase its share price and improve marketability and liquidity. Following the transaction, approximately 547,774 shares of common stock are expected to be outstanding, and outstanding warrants and other derivatives will be adjusted automatically.
Artelo Biosciences IncReverse stock split aims to increase share price and improve marketability, but impact on value is neutral.
