Elevai Labs Inc. announced on November 22, 2024, that it will implement a 1-for-200 reverse stock split of its common stock, effective at midnight on November 27, 2024. This action is a critical step to meet Nasdaq's minimum bid price requirement of $1.00 per share under Listing Rule 5550(a)(2).
Following the reverse stock split, every 200 shares of issued and outstanding common stock will be automatically consolidated into one share. Shareholders entitled to fractional shares will receive one full share for each fractional portion.
The reverse stock split does not impact the overall value of shareholder equity but reduces the number of shares outstanding while proportionally adjusting the share price. Post-split, there will be approximately 3.07 million shares of common stock issued and outstanding.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.