Movano (MOVE) said Friday that it will implement a 1-for-15 reverse stock split to raise the bid price of its stock and regain compliance with Nasdaq's listing rules for continued listing.
The shares will begin trading on a split-adjusted basis when the market opens on Oct. 29, Movano said. The reverse stock split will reduce its shares to about 6.6 million from about 99.5 million currently.
Shares of Movano were down more than 6% in recent trading.
Price: 0.28, Change: -0.02, Percent Change: -6.42
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