HOTH - Hoth Therapeutics falls 13% after the bell on 1-for-25 reverse stock split
- Hoth Therapeutics ( NASDAQ: HOTH ) stock fell ~13% after the bell on Monday after the firm said it will effect a 1-for-25 reverse stock split effective as of Wednesday, Oct. 26.
- Once the reverse split becomes effective, Hoth Therapeutics ( HOTH ) will have ~1.3M shares issued and outstanding.
- The firm's authorized stock will be proportionately adjusted such that it has 3M authorized shares after the reverse split.
- The reverse stock split is aimed at bringing Hoth Therapeutics ( HOTH ) into compliance with Nasdaq's minimum bid price rule for continued listing.
- The company was given additional 180 days, or till Dec. 26, to regain compliance with the Nasdaq listing requirement .
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Hoth Therapeutics falls 13% after the bell on 1-for-25 reverse stock split