MDxHealth SA (Nasdaq/Euronext: MDXH), which provides noninvasive prostate tests, said it has completed a 1-for-10 reverse stock split as part of a plan to solely list on Nasdaq.
MDxHealth has shifted from a dual listing of its American Depositary Shares, known as ADSs, on Nasdaq and ordinary shares on Euronext Brussels to a sole listing of shares on Nasdaq. After the close of trading today on the regulated market Euronext Brussels, all 272.9 million of the company’s shares were consolidated into 27.3 million shares.
As a result of the share consolidation, all the company’s ADSs now represent one new share on Nasdaq instead of ten ADSs.
Shares today rose 13% to $3.20 and an $82 million market cap. Shares are up about 25% since Oct. 2 when the company proposed the shift to Nasdaq.
The company, which began in Belgium where it was originally listed, has most of its employees at its Irvine offices. The company has said the move will simplify trading for investors.
