Agile Therapeutics hits record low after reverse stock split

Agile Therapeutics

11/04/2023 15:29

** Shares of biotech firm Agile Therapeutics Inc  AGRX.O 
tumble as much as 25% at $8.5, hitting a record low after co
reported a reverse stock split 
    ** Co says shareholders will receive 1 share for every 50
shares owned, effective from 0400 pm ET on Monday 
    ** Shareholders with fractional shares to receive cash
payments based on closing price of $10.3 on April 10 - AGRX
    ** Reverse stock split to boost price per share and help co
avoid delisting from Nasdaq, says co
    ** Agile expects outstanding shares to now be ~932,101 from
46,605,053 shares 
    ** Up to last close, stock down 25% YTD

    

 (Reporting by Johann M Cherian in Bengaluru)
 ((johann.mcherian@thomsonreuters.com;))