Healthy Choice Wellness announced on Thursday that its board approved a 1-for-35 reverse stock split of its Class A common stock, effective August 28 after market hours. The shares are expected to begin trading on a split-adjusted basis on August 31 under the same ticker, HCWC. The split is intended to help the company meet NYSE American's $4 minimum share-price requirement following its proposed merger with Host Digital Infrastructure, which is expected to close in the third quarter. Shareholders also approved increasing authorized common shares to 2 billion.
Healthy Choice Wellness Corp.Reverse split aims to meet listing requirement, but impact on stock value is neutral in theory.
