Monopar Therapeutics Implements 1-for-5 Reverse Stock Split to Regain Nasdaq Compliance
Monopar Therapeutics Inc.(Nasdaq: MNPR) has announced a 1-for-5 reverse stock split of its outstanding shares of common stock in an effort to regain compliance with Nasdaq’s listing rules.The Reverse Stock Split is expected to become effective at 5:00 pm on Monday, August 12, 2024, with trading on a split-adjusted basis starting on Tuesday, August 13, 2024 under the new CUSIP number 61023L207.Monopar’s common stock will continue to trade on the NASDAQ Capital Market under the symbol MNPR.
The Monopar Therapeutics Inc.had 15.979816 million shares outstanding, and the current price is $0.55.This strategic move aims to streamline the company’s share structure and increase the value of its stock.By reducing the number of outstanding shares, Monopar hopes to improve liquidity and attract new investors.
Overall, the Reverse Stock Split represents a proactive measure by Monopar Therapeutics to enhance its financial position and meet Nasdaq’s requirements for continued listing.Investors should stay tuned for further developments as the company navigates through this transition period.
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