Effective April 15, 2024, Gorilla Technology Group Inc., a technology firm listed on the Nasdaq, announced a significant share consolidation. The company will be implementing a 10-to-1 share consolidation in order to meet the minimum listing requirement of $1.00 per share. This consolidation will reduce the total number of outstanding shares from nearly 87 million to approximately 8.7 million, resulting in proportionally adjusted exercise prices of warrants and conversion prices of other equity instruments.
Gorilla Technology Group Inc.’s stock is listed on the Nasdaq and this move aims to bring its stock price up to $1 per share, which is the minimum requirement for listing. As a result of this consolidation, there will be a reduction in the total number of outstanding shares from nearly 87 million to about 8.7 million. This will also cause warrants’ exercise price and other equity instruments’ conversion prices to be adjusted proportionally.
The company has recently made an important announcement regarding a share consolidation that will take effect on April 15th, 2024. Through this consolidation, Gorilla Technology Group Inc., aims to meet the minimum listing requirement of $1 per share by reducing its outstanding shares from nearly 87 million to approximately 8.7 million. As a result of this move, warrants’ exercise price and other equity instruments’ conversion prices will be proportionally adjusted.
Investors can learn more about GRRR stock by visiting TipRanks’ Stock Analysis page for additional insights into this news announcement.
