Aclarion, a healthcare technology company specializing in chronic low back pain diagnostics, has announced a strategic reverse stock split designed to maintain its Nasdaq listing and improve its stock market standing. The company will reduce its outstanding shares from approximately 169.4 million to roughly 500,000 through a 1-for-335 split, effective before market open on Thursday, January 30, 2025.
The reverse stock split represents a critical financial maneuver to meet Nasdaq's continued listing standards, particularly the minimum bid price requirement of $1.00 per share. By consolidating its shares, Aclarion seeks to increase its per-share stock price and demonstrate financial stability to investors and market regulators.
Stockholders will see their existing shares automatically adjusted, with those holding less than 335 shares receiving one whole share. The split will proportionally impact outstanding warrants, stock options, and restricted stock units, ensuring equitable treatment across the company's financial instruments.
This corporate action follows stockholder approval on December 31, 2024, and will be implemented through an amendment to the company's Certificate of Incorporation filed with the Delaware Secretary of State. The move underscores Aclarion's commitment to maintaining its Nasdaq listing and providing shareholder value.
The reverse stock split will not alter the company's authorized share count or fundamentally change its market capitalization. Instead, it represents a strategic approach to improve market perception and meet critical exchange listing requirements.
Aclarion's primary business focuses on leveraging Magnetic Resonance Spectroscopy and augmented intelligence algorithms to help physicians identify chronic low back pain sources through its Nociscan platform. This technological approach positions the company at the intersection of healthcare technology and diagnostic innovation.
Existing stockholders will see their shares automatically adjusted through their brokerage accounts, with those holding physical stock certificates receiving specific exchange instructions from Vstock Transfer, the company's transfer agent.
The reverse stock split reflects a calculated strategy to enhance Aclarion's market positioning and provide a stable platform for future growth and development in the healthcare technology sector.
