Coeptis Therapeutics Holdings, Inc. COEP shares are trading lower on Friday.
The firm announced plans to implement a 1-for-20 reverse stock split, which will take effect on December 31.
The decision follows authorization from the company's board of directors and majority stockholders. The reverse stock split aims to help the company meet the Nasdaq Capital Market's minimum bid price requirement of $1.00 per share, which is necessary to maintain its listing on the exchange.
Under the terms of the reverse stock split, every 20 shares of the company's outstanding common stock will be converted into one share. The split will not result in fractional shares, as any fractional shares will be rounded up to the next whole number.
According to Benzinga Pro, COEP stock has lost over 20% in the past month.
Yesterday, the company announced the completion of its acquisition of the NexGenAI Affiliates Network platform and the launch of Coeptis Technologies.
This new division is designed to diversify the company's growth potential, specifically in highly regulated industries like biotech, pharmaceuticals, and multi-level marketing.
The NexGenAI Affiliates Network platform, developed by NexGenAI Solutions Group, is an AI-powered marketing software and robotic process automation (RPA) solution.
This tool helps marketers process large volumes of data, optimize campaigns, improve customer engagement, and streamline operations—key factors for success in the competitive and regulated sectors Coeptis serves.
Price Action: COEP shares are trading lower by 22.5% to $0.1636 at last check Friday.
Read Next:
Photo by solarseven via Shutterstock
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
