A total of 19 stocks are splitting during the trading week from April 8th to 12th. Some of the highest splits ratio are of 1:20, 1:15, 1:8, 1:10, 2:1, and 1:5 among others. These stocks are listed on Nasdaq, NYSE, OTC, and other exchanges. A majority of stock splits will be carried by ETFs. Accordingly, their shares will be in focus during trade.
April 8:
1. Palisade Bio:
1:15 Stock Splits: Biopharmaceutical company, Palisade Bio announced a 1-for-15 reverse split of its common stock, par value $0.01 ("Common Stock"). Beginning on Monday, April 8, 2024, the Company's Common Stock will continue to trade on The Nasdaq Capital Market ("Nasdaq") on a split-adjusted basis.
As a result of the reverse stock split, every 15 shares of Common Stock issued and outstanding as of the effective date will be automatically combined into one share of Common Stock. Outstanding warrants, equity-based awards and other outstanding equity rights will be proportionately adjusted by dividing the shares of Common Stock underlying the securities by 15 and multiplying the exercise/conversion price, as the case may be, by 15.
2. Kingfisher Metals:
1:5 Stock Splits: Canadian-based exploration company, Kingfisher Metals has announced a stock split ratio of 1-for-5. It will complete a consolidation of the issued and outstanding shares of the Company at a ratio of five (5) pre-consolidation common shares for one (1) post-consolidation common share (the "Consolidation"). The Consolidation will take effect on opening of business on April 8, 2024.
The Consolidation will increase Kingfisher's flexibility and competitiveness in the market, and make the Company's securities more attractive to a wider audience of potential investors.
3. Robex Resources:
1:10 Stock Split: Gold mining company, Robex has announced a stock split ratio of 1-for-10. Robex currently owns two assets in the highly prospective Birimian Greenstone belt: the Nampala-producing gold mine in Mali, and the Kiniero Gold Project in Guinea (Conakry).
April 9:
2:1 Stock Splits: West Japan Railway Company will implement its 2-for-1 stock split ratio. Also, a 2:1 stock split ratio will be carried by the company. like Terumo Corporation,
1:20 Stock Splits: Allarity Therapeutics, the clinical-stage pharmaceutical company, will be splitting its common stock for a ratio of 1-for-20.
April 10:
It needs to be noted that ProShares, a premier provider of ETFs, has announced a host of stock splits of its various ETFs of diverse segments in multiple types of split ratios.
2:1 Stock Splits: A host of stocks are scheduled to split in this ratio on April 10th. They are ProShares S&P 500 Ex-Health Care, ProShares S&P 500 Ex-Energy, and ProShares S&P 500 Ex-Financials.
1:5 Stock Splits: Stocks like ProShares UltraShort QQQ, ProShares UltraShort Semiconductors, ProShares Short QQQ, and ProShares UltraPro Short S&P500 have announced splitting into 1-for-5 ratio.
1:2 Stock Splits: Another ProShares-backed ETF, ProShares UltraShort Technology will be splitting by 1:2.
1:15 Stock Splits: Nutex Health is a healthcare management and operations company with two divisions: a Hospital Division and a Population Health Management Division. It will be splitting into the ratio of 1-for-15.
April 11:
The ProShares split for its ETFs continues on this day as well.
2:1 Stock Splits: ProShares Short VIX Short-Term Futures and ProShares UltraShort Bloomberg Natural Gas will be splitting up.
1:5 Stock Splits: Another Proshares-backed ProShares Ultra VIX Short-Term Futures is going to split in this ratio.
1:8 Stock Splits: Smith Micro Software has approved a 1-for-8 reverse split of the Company's Common Stock, par value of $0.001 per share. The Reverse Split will automatically convert every eight current shares of the Company's common stock, whether issued and outstanding or held by the Company as treasury stock, into one share of fully paid and nonassessable common stock.
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