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MDxHealth Completes Reverse Stock Split

Shares rise 13% on shift to Nasdaq

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.

 

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Peter J. Brennan
Peter J. Brennan
With four decades of experience in journalism, Peter J. Brennan has built a career that spans diverse news topics and global coverage. From reporting on wars, narcotics trafficking, and natural disasters to analyzing business and financial markets, Peter’s work reflects a commitment to impactful storytelling. Peter’s association with the Orange County Business Journal began in 1997, where he worked until 2000 before moving to Bloomberg News. During his 15 years at Bloomberg, his reporting often influenced financial markets, with headlines and articles moving the market caps of major companies by hundreds of millions of dollars. In 2017, Peter returned to the Orange County Business Journal as Financial Editor, bringing his heavy business industry expertise. Over the years, he advanced to Executive Editor and, in 2024, was named Editor-in-Chief. Peter’s work has been featured in prestigious publications such as The New York Times and The Washington Post, and he has appeared on CNN, CBC, BBC, and Bloomberg TV. A Kiplinger Fellowship recipient at The Ohio State University, he leads the Business Journal with a dedication to uncovering stories that matter and shaping the local business community and beyond.
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