Smith Micro Software (SMSI) just unveiled an announcement.
Smith Micro Software, Inc. stockholders have greenlit a reverse stock split, with the company’s board setting the final ratio at 1:8 during a special meeting on April 3, 2024. This strategic move will consolidate every eight shares into one, effective April 10, and will be reflected in trading on the Nasdaq under the same ticker “SMSI” with a new CUSIP number starting April 11. The reverse split aims to boost the stock’s market position, with fractional shares rounded up to whole shares, ensuring no fractional shares are left outstanding.
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