Biomerica (NASDAQ:BMRA), a global medical products provider, announced today that it will implement a 1-for-8 reverse stock split of its common stock.
The reverse stock split will become effective at 12:01 a.m. Eastern time on Monday, April 21, 2025.
Trading of Biomerica’s common stock on The Nasdaq Capital Market will begin on a split-adjusted basis when the market opens on Monday, April 21, 2025, and will continue under the ticker symbol “BMRA.”
The primary reason for the reverse stock split is to increase the per-share trading price of Biomerica’s common stock.
This move is intended to help the company regain compliance with the minimum bid price requirement for continued listing on The Nasdaq Capital Market.
The reverse stock split was authorized by Biomerica’s stockholders at the 2024 Annual Meeting held on December 13, 2024, with the final ratio being determined by the company’s board of directors.
As a result of the reverse stock split, every eight shares of Biomerica’s common stock issued and outstanding before the split will be automatically converted into one new share of common stock.
This will reduce the total number of outstanding shares from approximately 20.366 million to approximately 2.546 million.
Meanwhile, the number of authorized shares of Biomerica’s common stock will remain unchanged.