Guardion Health Sciences announces 1-for-50 reverse stock split

Guardion Health Sciences announced that it will effect a 1-for-50 reverse split of its common stock effective as of 4:01 p.m. Eastern Time on January 6, 2023. Commencing with the opening of trading on the Nasdaq Capital Market on January 9, 2023, the company’s common stock will trade on a post-split basis under the same symbol GHSI. The reverse stock split was approved by the company’s stockholders at the special meeting of stockholders held on January 5, 2023, with the final ratio determined by the Company’s Board of Directors. As a result of the reverse stock split, the CUSIP number for the company’s common stock will be changed to 40145Q500, and every 50 shares of issued and outstanding common stock will be exchanged for 1 share of common stock, with any fractional shares being rounded up to the next higher whole share. Immediately after the reverse stock split becomes effective, the company will have approximately 1,232,016 shares of common stock issued and outstanding. The reverse stock split is primarily intended to bring the company into compliance with Nasdaq’s minimum bid price requirement. However, there can be no assurances that the company will be able to remain in compliance with the minimum bid price requirement over time, or that it will be successful in maintaining compliance with any of the other Nasdaq continued listing requirements.