Vertical Aerospace (EVTL) said Monday it will implement a 1-for-10 reverse stock split of its ordinary and preferred shares.
The stock split will become effective after market close on Friday and shares will start trading on a split adjusted basis on Sept. 23, according to the company.
The reverse stock split will enable Vertical to regain compliance with the New York Stock Exchange's continued listing requirements, the company added.
Shares of the company fell almost 7% in after-hours activity.
Price: 0.8474, Change: -0.06, Percent Change: -6.88
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