Brenmiller Energy Ltd. announced today that a reverse share split of its issued and outstanding ordinary shares at a ratio of 5-for-1 is expected to be implemented after market close on June 18, 2025. This corporate action will reduce the number of outstanding shares.
The reverse share split is typically undertaken to increase the per-share trading price, helping the company maintain compliance with Nasdaq's minimum bid price requirement. This move follows the company regaining compliance with the rule earlier in the year.
Following the reverse split, every five ordinary shares will be combined into one ordinary share. The company's CEO, Avi Brenmiller, issued a letter to shareholders commenting on the reverse share split ahead of expected near-term milestones.
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