Predictive Oncology falls after reverse stock split

Axe Compute

21/04/2023 12:56

** Shares of med-tech firm Predictive Oncology Inc  POAI.O 
down 22.8% at $0.21 premarket
    ** Company announces a reverse stock split of its common
stock at a ratio of 1 post-split share for every 20 pre-split
shares, effective Monday
    ** Reverse stock split primarily intended to bring company
into compliance with Nasdaq bid price requirement and avoid
delisting - POAI
    ** The move will reduce the outstanding shares to ~3,979,860
from 79,597,181 shares, says company
    ** As of last close, stock down ~10% YTD

 (Reporting by Richard Rohan Francis in Bengaluru)
 ((RichardRohan.Francis@thomsonreuters.com;))