Picocela Inc. Considers Reverse Stock Split to Regain Nasdaq Compliance

Reuters
Aug 30
Picocela Inc. Considers Reverse Stock Split to Regain Nasdaq Compliance

Picocela Inc., a Tokyo-based provider of enterprise wireless mesh solutions, announced a reverse share split of its American Depositary Shares (ADSs) to regain compliance with the Nasdaq minimum bid price requirement. This move comes after the company received a notification from Nasdaq about its non-compliance with the minimum bid price rule. The reverse share split is aimed at boosting the closing bid price of its ADSs to meet the US$1.00 minimum required for continued listing.

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