Biomerica (BMRA) said Wednesday that it will implement a 1-for-8 reverse stock split of its issued and outstanding common shares on April 21.
The medical products company said the reverse stock split will help increase the bid price of the common shares, enabling it to regain compliance with the minimum bid price requirement for continued listing on The Nasdaq Capital Market.
The shares are expected to begin trading on a split-adjusted basis when the market opens on April 21. The company's ticker will remain unchanged on the bourse.
Price: 0.40, Change: -0.17, Percent Change: -29.04
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