BioNexus Gene Lab (BGLC) Announces 1-for-10 Reverse Split
1min read BioNexus Gene Lab (BGLC) closed flat today, marking a stable trading session for the biotechnology company.
BioNexus Gene Lab Corp (BGLC) recently announced a one-for-ten (1-for-10) reverse stock split, effective from April 7, 2025. This strategic move is aimed at helping the company regain compliance with Nasdaq's Minimum Bid Price Rule by May 1, 2025. The reverse stock split has reduced the number of outstanding shares from 17,967,663 to 1,796,597, which is expected to increase the stock price and meet Nasdaq's requirements.
The company's common stock began trading on a split-adjusted basis on the Nasdaq Capital Market following the reverse stock split. This action is part of BioNexus Gene Lab's broader efforts to enhance shareholder value and ensure long-term sustainability. The reverse stock split is a common strategy used by companies to boost their stock prices and maintain listing requirements on major exchanges.
