sur Mainz BioMed N.V.
Mainz Biomed Announces Reverse Stock Split to Enhance Nasdaq Compliance
Mainz Biomed N.V. (NASDAQ:MYNZ), a molecular genetics diagnostic company, has announced a 1-for-40 reverse stock split of its shares, effective December 3, 2024. This decision, approved by the board and shareholders, aims to increase the market price per share, ensuring compliance with Nasdaq's listing standards. The split seeks to attract more investors by elevating the trading price of ordinary shares.
The conversion will automatically reduce the number of shares from approximately 80.1 million to 2.0 million, with shareholders' ownership interests unchanged. Mainz Biomed received a Nasdaq notice in May 2024 for non-compliance with the minimum $1.00 bid price requirement, necessitating this measure. The company will file a hearing request to delay potential delisting, allowing time to meet Nasdaq requirements.
R. H.
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