Benson Hill Approves Reverse Split to Address NYSE Compliance

Benson Hill (BHIL) has issued an announcement.

A company disclosed they were not meeting the NYSE’s minimum price condition as their stock price dropped below $1.00 for 30 consecutive days. While this notice didn’t immediately affect their listing or operations, the company’s Board has approved a reverse stock split proposal to remedy the issue. The plan will be voted on during the 2024 annual meeting, and if implemented, the stock must then exceed $1.00 and maintain that for a month to regain compliance. Meanwhile, the stock will continue to be listed on the NYSE.

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