Boxlight Corporation's Board of Directors has approved a 1-for-5 reverse stock split of its Class A common stock. This corporate action aims to consolidate the outstanding shares of the company.
The reverse stock split is typically implemented to increase the per-share trading price of the company's stock. This move is often a strategy to regain or maintain compliance with minimum bid price requirements of stock exchanges, such as Nasdaq.
The change will reduce the number of outstanding shares and proportionally increase the stock price. This adjustment does not alter the total value of shareholders' investments, but it affects the number of shares they hold.
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