Scorpius Holdings Cancels Planned Reverse Stock Split: A Surprising U-Turn
Wesley ParkFriday, Jan 17, 2025 3:19 pm ET
2min read
In a surprising turn of events, Scorpius Holdings, Inc. (NYSE American: SCPX) has announced the cancellation of its planned 1-for-20 reverse stock split, just a day after announcing the decision to increase the selling price of its common stock. The company's Board of Directors had initially approved the reverse stock split to maintain compliance with the requirements and policies of the NYSE American. However, the company has now decided to abandon this plan, leaving investors and market observers wondering about the reasons behind this sudden change of heart.
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