Nexgel begins 1-for-20 reverse stock split trading on Nasdaq
NXGL•Nexgel began split-adjusted trading after a 1-for-20 reverse stock split, aiming to support compliance with Nasdaq’s $1 minimum bid requirement. Outstanding shares fell to about 487,384 from 9,747,663 before rounding for fractional shares.
1. Split-adjusted trading begins
Nexgel effected a 1-for-20 reverse stock split, with split-adjusted trading starting at today’s Nasdaq open under NXGL. The move targets a higher share price to support compliance with Nasdaq’s $1 minimum bid requirement. Outstanding shares fell to about 487,384 from 9,747,663 before rounding for fractional shares; fractional shares are rounded up to a whole share, with no cash paid in lieu.
