Ticker | Status | Jurisdiction | Filing Date | CP Start | CP End | CP Loss | Deadline |
---|
Ticker | Case Name | Status | CP Start | CP End | Deadline | Settlement Amt |
---|
Ticker | Name | Date | Analyst Firm | Up/Down | Target ($) | Rating Change | Rating Current |
---|
Seeking Approval for 80 - 1 Reverse Stock Split
As announced on January 10, 2024, the Company will be holding a Special Virtual-Only Meeting of Shareholders ("Special Meeting") on Wednesday, February 28, 2024, at 1:00 p.m. ET, to seek approval to amend the articles of the Company to effect an 80-1 reverse stock split.
The Company believes the reverse stock split will help with a number of initiatives, all of which are aimed at positioning the Company to generate long-term shareholder value. Despite common apprehensions about reverse splits, Zomedica believes its strong operational profile - characterized by rapid growth, solid capitalization, and strong future prospects - differentiates it from typical companies undergoing reverse splits.
Some of the potential benefits from the proposed reverse split include:
Additionally, the 80-1 reverse split brings the share count to a level in line with peers, potentially making it more attractive to equity investors. A higher share price and reduced share count resulting from the reverse split could thus increase institutional investment.
All shareholders of record as of the close of business on Tuesday, January 9, 2024, will be entitled to notice of the Special Meeting, which provides the means to vote. Notice of the Special Meeting will be sent to Shareholders directly from their respective financial institutions and intermediaries.
Posted In: ZOM