Aqua Metals (AQMS) said early Friday it plans to implement a one-for-20 reverse split of its common stock, which will become effective on Nov. 5.

Shareholders of the lithium-ion battery recycling company authorized the reverse split at a special meeting earlier this week, and the post-split company will have nearly 6.9 million issued shares compared with more than 137.6 million shares currently.

Aqua Metals shares were sinking 13% in recent trading.

Price: 0.13, Change: -0.02, Percent Change: -13.25