A technology firm listed on Nasdaq, Gorilla Technology Group Inc., has recently made an important announcement regarding a share consolidation. Effective April 15, 2024, the company will be implementing a 10-to-1 share consolidation in order to meet the minimum listing requirement of $1.00 per share. This consolidation will significantly reduce the total number of outstanding shares from nearly 87 million to approximately 8.7 million.
As a result of this consolidation, warrants and other equity instruments that are currently outstanding will have their exercise prices and conversion prices proportionally adjusted. This move is expected to make it easier for investors to value their holdings and could lead to increased liquidity in the stock market.
Investors interested in learning more about GRRR stock can find additional insights by visiting TipRanks’ Stock Analysis page.
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