Energous announces 1-for-20 reverse stock split

Energous Corporation announced that its board has approved a 1-for-20 reverse stock split of the company’s common stock. The reverse stock split will become effective at 12:01am ET on August 16, and the company’s common stock will begin trading on a split-adjusted basis at the market open on August 16. The company is implementing the reverse stock split to enable it to regain compliance with the $1.00 minimum bid price requirement for continued listing on The Nasdaq Capital Market. The reverse stock split was approved by the company’s stockholders at the company’s 2023 Annual Meeting, held on June 14, 2023, by a ratio not to exceed 1-for-20.