Boxlight (BOXL) said Wednesday that its board has approved a 1-for-6 reverse stock split.

The company said it made the decision to increase its share price to more than $1 to remain compliant with Nasdaq listing rules.

Under the reverse stock split, every six shares held by stockholders will be automatically reclassified into one share, the company said.

Shares of Boxlight added more than 2% pre-bell Wednesday.

Price: 0.72, Change: +0.02, Percent Change: +2.42