Rockwell Medical slips after announcing reverse stock split

Rockwell Medical

29/06/2026 15:15

Updates
** Shares of dialysis products maker Rockwell Medical RMTI.O fall 10.6% to 58 cents 
** Co says its board approved a 1-for-10 reverse stock split, effective July 1; shareholders had approved the move at RMTI's annual meeting on June 12
** Says every 10 existing shares will be combined into one new share, while the stock will continue trading on Nasdaq under the ticker "RMTI"
** Says the move is mainly aimed at meeting Nasdaq's $1 minimum bid price rule for continued listing
** No fractional shares will be issued; shareholders will receive cash instead for any fractional share - RMTI 
** Including session's move, RMTI down 30.1% YTD 

 (Reporting by Kunal Das in Bengaluru)
 ((Kunal.Das2@thomsonreuters.com;))