MEIP - MEI pharma falls on 1-for-20 reverse stock split

2023-04-14 16:33:12 ET

• MEI Pharma ( NASDAQ: MEIP ) said its board of directors had approved a 1-for-20 reverse stock split.
• ( MEIP ) is trading 2% lower after the bell.
• The company's common stock undergoes split adjustment and will become available for trading on the Nasdaq Capital Market starting Monday, April 17.
• Through the reverse stock split, the company aims to elevate the per-share trading value of its common stock, meeting the minimum bid price required to maintain its Nasdaq listing.
• The outstanding common stock shares will be decreased to roughly 6,663,043 following the reverse split from approximately 133,260,865 shares .

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