OceanPal Inc postpones 1-for-10 reverse stock split
21/12/2022 15:13
** Shipping firm OceanPal Inc OP.O says it is postponing
its planned reverse stock split to trade opening of Dec. 22
urn:newsml:reuters.com:*:nGNX2dJTNv
** Reverse split was previously scheduled to take effect on
Nasdaq opening of Dec. 21 urn:newsml:reuters.com:*:nGNXbM8mc2
** Company cites delay in regulatory approval, says approval
has now been obtained
** OceanPal says reverse stock split to increase per-share
trading price to comply with Nasdaq's minimum bid price
requirement to avoid delisting
** Shares were last down 25.2% at $1.10 premarket, before
being halted
(Reporting by Ruhi Soni in Bengaluru)
((Ruhi.Soni@thomsonreuters.com; Twitter: https://twitter.com/ruhithere))