Cardio Diagnostics Holdings, Inc. announced a 1-for-30 reverse stock split of its common stock, effective with the market opening on May 13, 2025. The reverse stock split will take effect at 11:59 pm Eastern Time on May 12, 2025.
This action is part of the company’s plan to regain compliance with the minimum bid price requirement for continued listing on The Nasdaq Capital Market. The reverse split was authorized by stockholders on November 15, 2024, and approved by the Board of Directors on April 10, 2025.
As a result, every 30 shares of common stock will be combined into one, reducing the number of outstanding shares from approximately 52 million to about 1.7 million. Fractional shares will be rounded up or down to the nearest whole number.
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