EZRA shares will consolidate to comply with Nasdaq’s $1.00 minimum bid price requirement for continued trading.
Reliance Global Group will implement a 1-for-40 reverse stock split of its common stock, effective immediately. The move aims to restore compliance with Nasdaq’s $1.00 minimum bid price rule for continued listing on the Nasdaq Capital Market.
The company’s stock has traded below the threshold, risking delisting. A reverse split reduces the number of outstanding shares while proportionally increasing the share price. No change in market capitalization or shareholder equity will occur.
Nasdaq requires stocks to maintain a minimum bid price of $1.00 for 30 consecutive trading days to avoid delisting. Reliance Global did not disclose the effective date of the split.