Inspire Veterinary Partners (IVP) said Wednesday that it will effect a 1-for-25 reverse stock split, effective before the opening of trading on Monday.
Each 25 shares will automatically be reclassified into one new share and the total number of shares will be reduced to about 1.5 million from 37 million, the company said.
The reverse stock split is intended to bring the company into compliance with the $1 minimum price requirement to maintain its Nasdaq listing, the company said.
Shares of the company were down more than 20% in Thursday's premarket activity.
Price: 0.12, Change: -0.031, Percent Change: -20.34
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