5G semiconductor company Mobix Labs in Irvine said today its board of directors approved the company’s 1-for-10 reverse common stock split. (Nasdaq: MOBX)
The reverse split will take effect at 4 p.m. Eastern Time, on April 6.
Mobix Labs said the reverse split is intended to increase the per share trading price of the company’s Class A common stock to enable the it to regain compliance with the minimum bid price requirement for continued listing on the Nasdaq Capital Market.
Shares in Mobix Labs fell 5.3% to 34 cents apiece in after hours trading after the company posted an intraday market cap of $37 million.
For further details, see the April 13 print edition of the Business Journal.
