AGRX - Agile Therapeutics stock gains on 1-for-40 reverse stock split

Agile Therapeutics (NASDAQ:AGRX) shares surged ~30% pre-market after the women's healthcare company announced a 1-for-40 reverse stock split, effective 5:00 p.m. on April 26, 2022. The move is expected to increase the per share trading price of the firm's common stock in order to satisfy the minimum bid price requirement for continued listing on the Nasdaq Capital Market. It will automatically convert 40 current shares of Agile's common stock into one new share of common stock. No fractional shares will be issued. The common stock will open for trading on Nasdaq on April 27, 2022 on a split-adjusted basis under the current trading symbol "AGRX." The reverse split will reduce the number of outstanding common shares from ~146,741,862 to ~3,668,546 shares.

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Agile Therapeutics stock gains on 1-for-40 reverse stock split