The consolidation will take effect from Monday and will bump up each share's value while reducing the number of shares in issue
. ( ) has announced a one-for-thirty reverse split of its common stock to take effect next Monday.
The shares underlying the company's outstanding convertible securities will also be adjusted accordingly, the laboratory instruments designer told investors.
The reverse split will have the effect of reducing the number of shares each shareholder owns while at the same time increasing the value of each share, effectively leaving the value of each shareholder’s stake unchanged.
Once the reverse split - also known as a consolidation - has taken place, there will be around 1.06mln Pressure Bio shares in issue.
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