These are the upcoming stock splits for the week of August 26-30, based on TipRanks’ stock split calendar. A stock split is a corporate action in which the company issues additional common shares to increase the number of shares outstanding. Accordingly, the share price of the company’s stock decreases, thus preserving the market capitalization before and after the split. In contrast, there are also reverse stock splits, in which the number of shares outstanding is reduced (consolidation). In this case too, the market capitalization is maintained while the share price increases after the reverse stock split.
Companies often conduct stock splits to improve the liquidity of common stock and make it more affordable for retail investors. Let’s take a quick look at this week’s upcoming stock splits.
BiomX Ltd. (PHGE) – BiomX is a clinical-stage company developing natural and engineered phage cocktails and treatments focused on targeting and destroying harmful bacteria in chronic diseases such as cystic fibrosis and diabetic foot osteomyelitis. On August 15, BiomX announced a 1-for-10 reverse stock split of its common stock. PHGE shares will begin trading on August 26 on a split-adjusted basis.
ESSTech (GWH) – ESS Tech is a renewable energy company. It provides clean and low-cost long-duration energy storage solutions. On August 23, the Board of Directors of ESS announced a 1:15 reverse stock split, effective August 26. The company is conducting the reverse stock split to meet the minimum bid price required by the NYSE for continued listing on the exchange.
BYND Cannasoft Enterprises Inc. (BCAN) – Israel-based Femto Technologies, formerly known as BYND Cannasoft, is an integrated software and cannabis company. BCAN operates proprietary customer relationship management (CRM) software. In addition, BCAN has developed a CRM platform to meet the needs of the medical cannabis industry. On August 16, BCAN announced a 1:17 reverse stock split of its common stock, effective August 26. The split was conducted to restore compliance with Nasdaq’s minimum bid price for continued listing.
Theriva Biologics (TOVX) – Theriva is a clinical-stage immuno-oncology company developing oncolytic viruses that can penetrate the protective barrier surrounding solid tumors and specifically kill tumor cells. On August 16, Theriva announced a 25-for-1 reverse stock split of its common stock. Shares will begin trading on August 26 on a split-adjusted basis to comply with NYSE American price quotation requirements.
Oblong, Inc. (OBLG) – Oblong provides innovative and patented technologies for work, creativity and communication. The mezzanine platform enables simultaneous content sharing to optimize audience engagement and situational awareness. On August 22, Oblong announced a 1:40 reverse stock split, effective August 26. The split was conducted to comply with the Nasdaq Capital Market’s continuous listing requirements.
New Age Metals, Inc. (NMTLF) – Canada-based New Age Metals is a junior mining company engaged in the development of one of North America’s largest palladium and lithium projects. On August 20, NMTLF announced a 4-for-1 reverse stock split of its common shares, effective August 26.
Quantum Corp. (QMCO) – Quantum Corp is an end-to-end data management company. It helps organizations store, manage and protect data, providing them with improved information and actionable insights. On August 23, QCOM announced a 20-for-1 reverse stock split, effective August 27.
Forte Biosciences (FBRX) – Forte Biosciences is a clinical-stage biotechnology company focused on developing its proprietary molecule therapy to treat autoimmune and related diseases. Forte’s board of directors has approved a 25-for-1 reverse stock split of the company’s common stock. Shares will begin trading on August 28 on a split-adjusted basis.
SAN-A Co. (SNAAF) – Japan-based SAN-A Co., which operates a chain of supermarkets and shopping malls, will conduct a 2-for-1 stock split on August 29.
Takashimaya Co. Ltd. (TKSHF) – Takashimaya is a Japan-based department store operator. The company will conduct a 2-for-1 stock split on August 29.
GDEV Inc. (GDEV) – GDEV has evolved from Nexters Studio into an independent publicly traded company. GDEV is focused on developing its franchise game portfolio such as Hero Wars, Island Hoppers and Pixel Gun 3D. On August 21, GDEV announced a 1:10 reverse stock split of its common stock. Stock trading will begin on August 29 on a split-adjusted basis. The company’s reverse stock split is intended to improve the liquidity and marketability of its common stock.
For more information on historical and upcoming stock splits, visit TipRanks’ Stock Split Calendar.
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