HCDI - Harbor Custom Development announces 1-for-20 reverse stock split

• Harbor Custom Development ( NASDAQ: HCDI ) announced it will effect a 1-for-20 reverse stock split of its issued and outstanding shares.
• The company's stockholders voted to authorize a reverse stock split in a range of 1-for-3 to 1-for-25 on Feb. 17, 2023, and directors voted to authorize the exact ratio for the reverse split of 1-for-20 on Feb. 27, 2023.
• The stock will trade on post-reverse split basis from Mar.6, 2023.
• Completion of the reverse split was important to maintain compliance with the minimum bid price requirement of the Nasdaq Capital Market’s continued listing standards.

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