These are the upcoming stock splits for the week of August 19 to August 23, based on TipRanks’ Stock Splits Calendar. A stock split is an organization motion through which the company issues additional common shares to increase the range of outstanding shares. Accordingly, the stock price of the company’s shares decreases, which maintains the market capitalization before and after the split. In contrast, there are also reverse stock splits that reduce the range of outstanding shares (consolidate). On this case, too, the market cap is maintained since the share price increases following the reverse stock split.
Firms often undertake stock splits to boost the liquidity of the common shares and make them cheaper for retail investors. Let’s look quickly on the upcoming stock splits for the week.
Surf Air Mobility (SRFM) – Surf Air Mobility is a regional electric aviation, software, and air travel company. It operates short-haul scheduled flights and has flown 1000’s and 1000’s of passengers across the U.S. On August 8, the company’s board approved a one-for-seven reverse stock split, effective August 19. Through this stock split, the company goals to comply with the NYSE’s minimum bid price requirement for continued listing.
Higher Home Finance Holding Company (BETR) – Higher Home operates a financial digital platform that offers residential mortgage, insurance, and real estate services inside the U.S. and the UK. On August 1, the company’s board approved a one-for-50 reverse stock split for its Class A normal stock to regain compliance with Nasdaq’s listing requirements. The reverse stock split became effective on August 16, after the market closed. Shares will start trading on a split-adjusted basis on August 19.
SITE Centers (SITC) – SITE Centers owns and manages open-air shopping centers in suburban, high-household-income communities across the U.S. The company operates as a REIT (real estate investment trust). On July 15, SITE’s board announced a one-for-four reverse stock split, which may be effective on August 19. SITE may be heading in the suitable direction for the spin-off of its Curbline Properties portfolio right right into a separate listed entity in October. For the spin-off, SITE has undertaken the sale of assets price $1 billion to this point. It has built a portfolio of 72 wholly-owned properties for the CURB listing. The reverse stock split may be reportedly undertaken as considered certainly one of the steps toward the spin-off.
Faraday Future Intelligent Electric (FFIE) – Faraday Future Intelligent Electric manufactures next-generation smart electric connected vehicles. On August 4, FFIE’s board approved a reverse stock split of its Class A normal stock inside the ratio of one-for-40. The split took effect on August 16, after the market closed, to regain compliance with Nasdaq’s listing requirements. FFIE Class A normal shares are expected to start trading on a split-adjusted basis on August 19.
Aligos Therapeutics (ALGS) – Aligos Therapeutics is a clinical-stage biopharmaceutical company specializing in small molecule and oligonucleotide drug candidates. The company seeks to develop medicines for viral infections and liver diseases paying homage to MASH (metabolic dysfunction-associated steatohepatitis), Chronic Hepatitis B, and coronavirus. On August 15, ALGS announced a one-for-25 reverse stock split of its common shares, effective August 19. This step is taken to regain compliance with Nasdaq’s minimum bid price requirement of $1.00 apiece.
Gingko Bioworks Holdings (DNA) – Gingko Bioworks is a biotechnology company. It operates a cell platform that permits customers to program cells. On August 14, shareholders approved a one-for-forty reverse stock split of the company’s Class A normal shares. DNA shares are expected to start trading on a split-adjusted basis on August 20. The step was taken to regain compliance with the NYSE’s minimum bid price requirement of $1.00 per share.
RedHill Biopharma (RDHL) – Israel-based RedHill Biopharma is a specialty biopharmaceutical company focused on developing treatments for gastrointestinal diseases. It currently has two U.S. FDA (Food and Drug Administration) approved drugs available on the market inside the U.S. On August 16, RDHL announced a 1-for-25 reverse stock split of its ADS (American depositary shares). The reverse stock split will change the ratio of strange shares to ADS from one-to-400 to one-to-10,000. Effective August 20, the ADS will start trading on a split-adjusted basis. The reverse stock split will help regain compliance with Nasdaq’s minimum bid price requirement for continued listing.
Cadrenal Therapeutics (CVKD) – Cadrenal Therapeutics is a biopharmaceutical company focused on developing its late-stage oral and reversible blood thinner medication, tecarfarin. The drug goals to forestall heart attacks, strokes, and deaths resulting from blood clots in patients with rare cardiovascular conditions. Cadrenal announced a one-for-15 reverse stock split of its common stock to regain compliance with the minimum bid requirement for continued listing on the Nasdaq. Shares are expected to start trading on a split-adjusted basis on August 20.
ENDRA Life Sciences (NDRA) – ENDRA Life Sciences is developing a sophisticated Thermo-Acoustic Enhanced UltraSound (TAEUS) system that permits higher visualization of human tissue composition, function, and temperature. The initial application of TAEUS is for measuring fat inside the liver as a technique to judge and monitor steatotic liver disease (SLD) (formerly generally often known as NAFLD-NASH). On August 16, NDRA announced the reverse stock split of its common shares inside the ratio of one-for-50. Shares are expected to start trading on a split-adjusted basis on August 20. The aim of this reverse stock split is to increase the company’s share price in accordance with Nasdaq’s minimum bid price requirement.
To hunt down more details about historical and upcoming stock splits, visit the TipRanks Stock Splits Calendar.