Arqit Quantum (ARQQ) said Thursday its board approved a 1-for-25 reverse share split.

The company's stock will begin trading on a split-adjusted basis on Nasdaq from Sept. 25, Arqit Quantum said.

The provider of cybersecurity services said it expects to regain compliance with Nasdaq's minimum bid price requirement by implementing the reverse share split.

Shares of the company fell 3.6% in recent premarket activity.

Price: 0.2796, Change: -0.01, Percent Change: -3.59