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OXIS Conducting a Reverse Split to Meet NASDAQ Listing Requirements? Wishful Thinking!

Submitted by Marijuana News on Thu, 05/21/2015 - 14:39

Yesterday, Oxis International Inc. (OXIS) filed an information statement stating that its shareholders approved a reverse stock split at a ratio to be decided by the company’s board of directors. The reverse split will not be less than 1-for-50 and it will not be more than 1-for-250. The company’s primary reason for the reverse split is to become listed on the NASDAQ

  • OXIS’s board of directors believe that a reverse split could help the company meet the initial requirements for listing on the NASDAQ by raising OXIS’s bid or closing price. The NASDAQ requires companies to meet a minimum bid or closing price in the $2-$4 range.
  • The company believes that a reverse split could increase OXIS’s market bid price to at least the amount required for initial listing by the NASDAQ.

What are the NASDAQ’s listing requirements for all companies?

There are three sets of listing requirements for the...

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