InVivo Therapeutics falls after announcing reverse stock split

InVivo Therapeutics Holdings

18/04/2022 14:05

** Shares of medical equipment maker  NVIV.O  drop 14.9% to
$0.26 premarket    
    ** Co late Thursday said the 1-for-25 reverse split was
intended to bring it into compliance with minimum bid price
requirements for maintaining Nasdaq Capital Market listing
 urn:newsml:reuters.com:*:nBw1Rc1p2a
    ** Reverse stock split to be effective after markets close
on April 26
    ** NVIV anticipates it to reduce issued and outstanding
shares to ~1.4 mln from ~34.3 mln
    ** Stock last traded above $1 about a year ago
    ** NVIV has fallen over 34% since the start of the year

 (Reporting by Uday Sampath in Bengaluru)
 ((UdaySampath.Kumar@thomsonreuters.com; Twitter: https://twitter.com/sampath_uday
  ;))