These are the upcoming stock splits for the week of August 26 to August 30, based on TipRanks’ Stock Splits Calendar. A stock split is a corporate action in which the company issues additional common shares to increase the number of outstanding shares. Accordingly, the stock price of the company’s shares decreases, which maintains the market capitalization before and after the split. In contrast, there are also reverse stock splits that reduce the number of outstanding shares (consolidate). In this case, too, the market cap is maintained as the share price increases following the reverse stock split.
Companies often undertake stock splits to improve the liquidity of the common shares and make them more affordable for retail investors. Let’s look quickly at the upcoming stock splits for the week.
BiomX Ltd. (PHGE) – BiomX is a clinical-stage company. It is developing natural and engineered phage cocktails and treatments focused on targeting and destroying harmful bacteria in chronic diseases such as cystic fibrosis and diabetic foot osteomyelitis. On August 15, BiomX announced a one-for-ten reverse stock split of its common shares. PHGE shares will start trading on a split-adjusted basis on August 26.
ESS Tech (GWH) – ESS Tech is a renewable energy company. It provides clean and low-cost long-duration energy storage solutions. On August 23, ESS’ board announced a one-for-15 reverse stock split to be effective on August 26. The company is undertaking the reverse stock split to comply with the NYSE’s minimum bid price requirement for continued listing on the exchange.
BYND Cannasoft Enterprises Inc. (BCAN) – Israel-based Femto Technologies, previously known as BYND Cannasoft, is an integrated software and cannabis company. BCAN operates a proprietary customer relationship management (CRM) software. Moreover, BCAN has developed a CRM platform to serve the needs of the medical cannabis industry. On August 16, BCAN announced a one-for-17 reverse stock split of its common shares, effective August 26. The split was undertaken to regain compliance with Nasdaq’s minimum bid price requirement for continued listing.
Theriva Biologics (TOVX) – Theriva is a clinical-stage immuno-oncology company engaged in the development of oncolytic viruses aimed to overcome the protective barrier surrounding solid tumors and selectively kill tumor cells. On August 16, Theriva announced a one-for-25 reverse stock split of its common stock. The shares will start trading on a split-adjusted basis on August 26 to comply with the NYSE American’s price listing requirement.
Oblong, Inc. (OBLG) – Oblong offers innovative and patented technologies for people to work, create, and communicate. Its Mezzanine platform offers simultaneous content sharing to optimize audience engagement and situational awareness. On August 22, Oblong announced a one-for-40 reverse stock split, effective August 26. The split was undertaken to comply with the Nasdaq Capital Market’s continued listing requirements.
New Age Metals, Inc. (NMTLF) – Canada-based New Age Metals is a junior mining company engaged in developing one of North America’s largest Palladium and Lithium projects. On August 20, NMTLF announced a one-for-four reverse stock split of its common shares, effective August 26.
Quantum Corp. (QMCO) – Quantum Corp is an end-to-end data management company. It helps companies store, manage, and protect data, providing them with enhanced intelligence and actionable insights. On August 23, QCOM announced a one-for-20 reverse stock split that will be effective August 27.
Forte Biosciences (FBRX) – Forte Biosciences is a clinical-stage biotechnology company with a focus on developing its proprietary molecule therapy for treating broad autoimmune and autoimmune-related applications. Forte’s board approved a one-for-25 reverse stock split of the company’s common shares. The stock will start trading on a split-adjusted basis on August 28.
SAN-A Co. (SNAAF) – Japan-based SAN-A Co. operates a chain of supermarket stores and shopping malls. The company is set to undertake a two-for-one stock split effective August 29.
Takashimaya Co Ltd. (TKSHF) – Takashimaya is a Japan-based operator of department stores. The company is set to carry out a two-for-one stock split on August 29.
GDEV Inc. (GDEV) – GDEV branched out from Nexters studio into an independent listed company. GDEV is focused on developing its franchise games portfolio such as Hero Wars, Island Hoppers, and Pixel Gun 3D. On August 21, GDEV announced a one-for-ten reverse stock split of its common shares. The stock will start trading on a split-adjusted basis on August 29. The reverse stock split by the company intends to improve the liquidity and marketability of its common stock.
To find more information about historical and upcoming stock splits, visit the TipRanks Stock Splits Calendar.
Source: finance.yahoo.com