- The medical technology company Motus GI Holdings ( NASDAQ: MOTS ) stated Monday its plans to execute a 1-for-20 reverse stock split of its outstanding common shares.
- That means every 20 pre-split shares will become 1 share of common stock, reducing the company's number of issued and outstanding shares from ~55.3M to approximately 2.8M.
- The stock is scheduled to begin trading on a split-adjusted basis at the opening of the market on Tuesday, July 26, 2022.
- This reverse stock split is intended to increase the per share trading price of Motus GI’s common stock to satisfy the Nasdaq's $1 minimum bid requirement for continued listing.
- MOTS stock is down 13% premarket, Monday, to trade at $0.23 vs. 52-week trading range of $0.24 to $0.97.
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Motus GI Holdings announces 1-for-20 reverse stock split to satisfy Nasdaq's minimum bid requirement