SUNation Energy's Board Approves 200-for-1 Reverse Stock Split

MT Newswires Live

04/16

SUNation Energy (SUNE) said Wednesday that its board approved a 200-for-1 reverse stock split of common shares, effective April 21.

The company said it intends to increase the share price with the reverse stock split to regain compliance with the minimum bid price requirement for continued listing on the Nasdaq Capital Market.

The company will have about 3.4 million outstanding shares after the split is effective, SUNation added.

Shares of the company were down 48% in recent trading.

Price: 0.02, Change: -0.02, Percent Change: -48.78

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