Vivos Therapeutics (NASDAQ:VVOS) has announced that it will implement a 1-for-25 reverse stock split of its issued and outstanding common shares effective at the start of trading on Friday, October 27, 2023.
The medical technology company said among other considerations, the reverse split is intended to bring Vivos into compliance with the $1.00 minimum bid price requirement for maintaining its listing on the Nasdaq Capital Market and to make the prevailing prices of its shares more attractive to a broader group of institutional investors.
Vivos noted the number of its outstanding shares has been proportionally reduced from 29,928,786 shares to approximately 1,197,151 shares.
The company added that the reverse split was approved at Vivos’ 2023 Annual Meeting of Stockholders on September 22, 2023.
Its shares will continue to trade on the Nasdaq Capital Market under the symbol 'VVOS'.
Vivos Therapeutics (NASDAQ:VVOS) is a medical technology company focused on developing and commercializing innovative diagnostic and treatment methods for patients suffering from breathing and sleep issues arising from certain dentofacial abnormalities such as mild-to-moderate obstructive sleep apnea and snoring in adults.
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