Marpai falls after reverse stock split announcement

Marpai

28/06/2023 13:58

** Shares of software firm Marpai  MRAI.O  down ~10% at
$0.43 premarket
    ** Co announces a reverse stock split of its Class A common
stock, where its board approved reverse split ratio of 4:1 on
June 26
    ** MRAI expects common stock to begin trading on a
split-adjusted basis at market open on June 29
    ** Also appoints American Stock Transfer & Trust to act as
its exchange agent for the reverse split
    ** Up to Tuesday's close, stock had fallen over 32% so far
in 2023

 (Reporting by Anne Florentyna Gnanaraja Sekar in Bengaluru)
 ((AnneFlorentyna.GnanarajaSekar@thomsonreuters.com;))