- Biomerica (BMRA, Financial) will execute a 1-for-8 reverse stock split effective April 21, 2025.
- The split is intended to help regain compliance with Nasdaq's minimum bid price requirement.
- Post-split, the number of outstanding shares will decrease from approximately 20.37 million to 2.55 million.
Biomerica, Inc. (BMRA), a global provider of advanced medical products, has announced a 1-for-8 reverse stock split of its common stock, effective at 12:01 a.m. Eastern time on April 21, 2025. This reverse stock split aims to increase the bid price of the company's common stock, enabling Biomerica to regain compliance with the minimum bid price requirement necessary for continued listing on The Nasdaq Capital Market.
The company's common stock will continue trading on Nasdaq under the symbol 'BMRA' but will feature a new CUSIP number (09061H406) following the split. As a result of the reverse stock split, every 8 shares of Biomerica's pre-split common stock will be automatically converted into one new share, reducing the number of shares outstanding from approximately 20.37 million to 2.55 million.
Fractional shares resulting from the reverse stock split will be automatically rounded up to the next whole share. Proportionate adjustments will also be made to equity awards, option exercise prices, and shares available under stock incentive plans, though the par value of the common stock remains unchanged.
This corporate action, approved by Biomerica's stockholders at the 2024 Annual Meeting, addresses a critical need for the company to meet Nasdaq's minimum bid price requirement and avoid the consequences of delisting, which would include reduced liquidity and limited access to institutional investment.
