Bollinger Innovations Announces 1-For-250 Reverse Stock Split

The split is primarily intended to ensure compliance with Nasdaq listing rules that require a minimum bid price of $1, Bollinger said.

Bollinger Innovations, Inc. (BINI) on Thursday announced a 1-for-250 reverse stock split of its common stock, effective Monday.

The common stock will begin trading on a split-adjusted basis at the market open on September 22, the company said. The split is primarily intended to ensure compliance with Nasdaq listing rules that require a minimum bid price of $1.

The company added that this will be the last reverse stock split that it initiates for the next three years. Shares of the company slumped 8% in the pre-market session at the time of writing. 

Get updates to this developing story <directly on Stocktwits.<