Castor Maritime (CTRM) has released an update.
Castor Maritime Inc. has announced a 1-for-10 reverse stock split effective March 27, 2024, aimed at meeting Nasdaq’s minimum bid price requirement. The split will reduce outstanding shares from approximately 96.6 million to 9.66 million without altering shareholder percentages or the par value of shares. Shareholders will be compensated in cash for any fractional shares resulting from the split.
For further insights into CTRM stock, check out TipRanks’ Stock Analysis page.
