These are the upcoming stock splits for the week of February 24 to February 28, based on TipRanks’ Stock Splits Calendar. A stock split is a corporate action in which the company issues additional common shares to increase the number of outstanding shares. Accordingly, the stock price of the company’s shares decreases, which maintains the market capitalization before and after the split.
In contrast, there are also reverse stock splits that reduce the number of outstanding shares (consolidate). In this case, too, the market cap is maintained as the share price increases following the reverse stock split.
Companies often undertake stock splits to improve the liquidity of the common shares and make them more affordable for retail investors. Let’s look quickly at the upcoming stock splits for the week.
60 Degrees Pharmaceuticals (SXTP) – 60 Degrees Pharmaceuticals engages in developing small molecule therapies for the prevention and treatment of infectious diseases. On February 20, SXTP announced a one-for-five reverse stock split of its common stock, to be effective on February 24. The reverse stock split is being undertaken to comply with Nasdaq’s minimum bid price requirement of $1.00 per share.
HWH International (HWH) – HWH International is a purpose-driven lifestyle company offering products on online marketplaces for health, wealth, and happiness. On February 20, HWH announced a one-for-five reverse stock split of its common stock to regain compliance with Nasdaq’s minimum bid price requirement. HWH stock is expected to start trading on a split-adjusted basis on February 24.
GRI Bio (GRI) – Gri Bio is a clinical-stage biopharmaceutical company that develops and manufactures innovative treatments for inflammatory, fibrotic, and autoimmune diseases. On February 19, Gri Bio announced a one-for-17 reverse stock split of its common shares, to be effective on February 24. The reverse split is expected to boost the per share trading price of GRI stock to regain trading compliance on the Nasdaq Capital Market exchange.
Volato Group Inc. (SOAR) – Volato operates in the aviation space with its Vaunt platform that connects travelers with available private flights for on-demand travel. The company offers fractional ownership of private jets, jet cards, charter, and aircraft management services. On February 14, Volato announced a one-for-25 reverse stock split of its common stock to regain compliance with NYSE American LLC’s per-share trading price requirements. SOAR stock is expected to start trading on a split-adjusted basis on February 24.
United Plantations Bhd (UPBMF) – United Plantations owns and operates a number of companies involved in both upstream and downstream palm oil production across Malaysia and Indonesia. On February 11, UPBMF announced a bonus issue of its common shares of up to 208,134,266 new ordinary shares (1:1 ratio) to reward its shareholders. The stock will go ex-bonus on February 25.
Peak Minerals Limited (HEGLF) – Peak Minerals is an Australia-based mineral exploration and development company, with a focus on copper and nickel assets. The company announced an entitlement issue of its common stock, to be effective on February 25. The entitlement issues one ordinary share for every ten shares held by eligible shareholders.
Comstock Mining (LODE) – Comstock mining engages in the exploration and development of mineral properties. Comcast’s technology converts under-utilized natural resources, such as waste and other forms of woody biomass into renewable fuels, and end-of-life electronics into recovered electrification metals. On February 14, Comcast announced a one-for-ten reverse stock split of its common stock, to be effective on February 24.
Aptose Biosciences (APTO) – Canada-based Aptose Biosciences is a clinical-stage biotechnology company, that is developing precision medicines targeted at the unmet needs for oncology. On February 18, APTO announced a one-for-30 reverse stock split of its common stock to regain compliance with Nasdaq’s minimum bid price requirement. APTO stock is expected to start trading on a split-adjusted basis on February 26.
Orix Corp. (IX) – Japan-based Orix Corp. is a diversified financial services group, offering leasing, financing, and investing solutions. On February 3, Orix announced a change in the ratio of its ADS (American Depositary Shares) to ordinary shares, resulting from a five-for-one forward split of its ADS. Effective February 28, IX stock is expected to start trading on a split-adjusted basis.
To find more information about historical and upcoming stock splits, visit the TipRanks Stock Splits Calendar.