C3is Inc. (CISS) has released an update.
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C3is Inc., in compliance with the Republic of the Marshall Islands Business Corporations Act, has announced a reverse stock split, effective April 11, 2024, converting every one hundred shares of its Common Stock into one share. The adjustment is designed to reduce the number of shares without altering the authorized share count or par value, while shareholders with fractional shares will receive a cash payment instead. The amendment was duly authorized by the Board of Directors and shareholders, as confirmed by the CEO Diamantis Andriotis.
For further insights into CISS stock, check out TipRanks’ Stock Analysis page.
