SANUWAVE Health, Inc. (SNWV), a leading provider of advanced, FDA-approved wound care solutions, has announced a significant corporate action. The company will implement a reverse stock split at a ratio of 1-for-375, effective October 18.
Post-split, the stock will continue trading under the ticker "SNWV" on the OTCQB market and is anticipated to start trading on a split-adjusted basis beginning the same day.
This strategic move is projected to significantly decrease the existing number of outstanding shares from approximately 1.18 billion to about 3.15 million shares.
The reverse stock split will entail consolidating every 375 shares of issued and outstanding common stock into one share, with the par value per share remaining unchanged. The split will take effect following the close of business on October 17.
