Alzamend Neuro Inc ALZN shares are buying and selling decrease by 31.2% to $0.12 Monday morning after the corporate introduced a reverse inventory break up.
What Occurred?
Alzamend Neuro has authorised a one-for-fifteen reverse inventory break up of its frequent inventory, efficient on October 31, aimed toward regaining compliance with Nasdaq’s Minimal Bid Value Requirement of $1.00 per share.
This break up will impression all current shares and shares out there for issuance beneath fairness incentive plans, however it will not change the par worth of the frequent inventory. The break up won’t alter stockholders’ proportion pursuits, however these with fractional shares will obtain money funds as a substitute.
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In response to knowledge from Benzinga Professional, ALZN has a 52-week excessive of $1.32 and a 52-week low of $0.11.
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