✍ 30 May, 2023 - 12:03
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- Applied UV Inc (NASDAQ:AUVI) said it will effect a 1-for-5 reverse stock split of its common stock, par value $0.0001 per share.
- Applied UV’s common stock will continue to trade on The Nasdaq Capital Market under the existing symbol “AUVI.”
- The shares will begin trading split-adjusted when the market opens on May 31, 2023.
- The reverse stock split is primarily intended to bring the company into compliance with the $1.00 minimum bid price requirement for maintaining its listing on Nasdaq.
- At the company’s annual meeting of stockholders held on May 24, 2023, the stockholders approved a proposal to authorize a reverse stock split at a ratio within the range of 1-for-2 to 1-for-5.
- The company’s Chief Executive Officer approved a 1-for-5 reverse split ratio.
- Price Action: AUVI shares are trading lower by 36% at $0.3553 on the last check Tuesday.
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