CNSP - Why CNS Pharmaceuticals Shares Are Getting Hammered | Benzinga
CNS Pharmaceuticals, Inc (NASDAQ:CNSP) shares are trading lower by 33.4% to $0.14 during Monday’s session after the company announced a 1-for-50 reverse split of its common stock, effective at 4:01 PM ET on June 4. This move aims to increase the share price and meet Nasdaq’s minimum share price requirement.
In the reverse split, every 50 shares of common stock will be consolidated into one share. Warrants, equity-based awards, and other equity rights will be adjusted accordingly. Fractional shares will not be issued; instead, any fractional share entitlement will be rounded ...