TLIS - Talis Biomedical to effect 1-for-15 reverse stock split to increase value of shares

2023-07-05 08:21:57 ET

• Diagnostic company Talis Biomedical ( NASDAQ: TLIS ) said on Wednesday that it will effect a 1-for-15 reverse stock split at 5:00 PM ET today to increase the value of its shares.
• The shares will begin trading on a reverse stock split adjusted basis from July 6 market open.
• The company's shareholders had approved a proposal for the reverse stock split at the annual meeting held on June 9.
• The reverse stock split intends to increase the company's per share market price to regain compliance with Nasdaq's minimum per share bid price requirement.
• The reverse stock split will reduce the company's number of issued and outstanding shares to ~1.8M from ~26.9M.
• TLIS shares were trading -6.09% pre-market.
• Source: Press Release

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