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- Agrify Corp (NASDAQ:AGFY) said its Board of Directors approved a 1-for-10 reverse stock split.
- The decision will be effective as of 12:01 a.m. on Tuesday, October 18, 2022.
- The company's common stock will open for trading on the Nasdaq capital market on Tuesday, October 18, 2022, on a split-adjusted basis under the current trading symbol AGFY.
- The reverse stock split is intended to increase the per share trading price of Agrify to enable it to satisfy the minimum bid price requirement for continued listing on the Nasdaq capital market.
- The reverse stock split will reduce the number of outstanding shares from about 26.7 million to about 2.7 million shares.
- The reverse stock split will not change the par value of Agrify's common stock and will not reduce the number of authorized shares of common stock.
- Price Action: AGFY shares are trading higher by 13.36% at $12.13 in pre-market trading on the last check Tuesday.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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