Reliance Global (RELI) said Wednesday its board has authorized a 1-for-17 reverse stock split of its shares to regain compliance with the $1 minimum bid price rule for continued listing on Nasdaq.
The shares will start trading on Nasdaq on a reverse split-adjusted basis at the start of trading on July 1, the company said.
The company's shares were falling past 30% in recent trading.
Price: 0.28, Change: -0.12, Percent Change: -30.32
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