BBLN - Babylon receives NYSE notice and gets approval for reverse share split at a consolidation ratio of between 15 and 25

• Babylon ( NYSE: BBLN ) received notice from the NYSE that it is not in compliance with listings standards as it did not maintain an average closing share price of at least $1.00 over a consecutive 30 trading-day period.
• Company received shareholder approval of a reverse share split at a consolidation ratio of between 15 and 25, which is intended as soon as possible in Q4 2022.
• Company believes that a reverse share split will also benefit its shareholders because it will enable to reach additional institutional shareholders who impose minimum price requirements.

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