Applied UV Effects 1-For-5 Reverse Stock Split - Applied UV (NASDAQ:AUVI)

Applied UV Inc AUVI said it will effect a 1-for-5 reverse stock split of its common stock, par value $0.0001 per share.
Applied UV's common stock will continue to trade on The Nasdaq Capital Market under the existing symbol "AUVI."
The shares will begin trading split-adjusted when the market opens on May 31, 2023.
The reverse stock split is primarily intended to bring the company into compliance with the $1.00 minimum bid price requirement for maintaining its listing on Nasdaq.
At the company's annual meeting of stockholders held on May 24, 2023, the stockholders approved a proposal to authorize a reverse stock split at a ratio within the range of 1-for-2 to 1-for-5.
The company's Chief Executive Officer approved a 1-for-5 reverse split ratio.
Price Action: AUVI shares are trading lower by 36% at $0.3553 on the last check Tuesday.