Society Pass Declares 1-for-15 Reverse Stock Split to Maintain Nasdaq Listing

Dow Jones04-27

By Sabela Ojea

Society Pass said it would initiate a 1-for-15 reverse stock split of its common stock.

The provider of technology solutions on Friday said that its board of directors approved the reverse split.

Society Pass' shares are expected to trade on a post-split basis starting on May 1 to regain compliance with Nasdaq listing rules ahead of the May 20 limit.

The move will also reduce the number of authorized shares by the same ratio as the reverse split, Society Pass added.

Society Pass shares have fallen 85% over the last 12 months.

Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix

(END) Dow Jones Newswires

April 26, 2024 17:15 ET (21:15 GMT)

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