Breaking News: MANGOCEUTICALS INC. Implements 1-for-15 Reverse Stock Split in Compliance with NASDAQ Regulations
DALLAS, TX, Oct. 11, 2024 (GLOBE NEWSWIRE) — Mangoceuticals, Inc. (NASDAQ: MGRX)
Mangoceuticals, Inc. (NASDAQ: MGRX) (“MangoRx” or the “Company”), a company focused on developing, marketing, and selling a variety of men’s health and wellness products in the area of erectile dysfunction (ED), hair growth, weight loss, and hormone replacement therapies, today announced that it will conduct a reverse stock split of its outstanding shares of common stock at a ratio of 1-for-15 (the “Reverse Stock Split”). The Reverse Stock Split will become effective on October 16, 2024 at 12:01 a.m. Eastern Time (the “Effective Time”), with shares expected to begin trading on the Nasdaq Capital Market, on a split-adjusted basis, at market open on October 16, 2024. In connection with the Reverse Stock Split, every fifteen shares of the Company’s common stock issued and outstanding as of the Effective Time will be automatically converted into one share of the Company’s common stock. No change will be made to the trading symbol for the Company’s shares of common stock, “MGRX”, in connection with the reverse split.
With this significant announcement, investors and stakeholders of Mangoceuticals Inc. are closely monitoring the impact of the 1-for-15 reverse stock split on the company’s stock performance. The decision to implement the reverse stock split comes as part of the company’s efforts to maintain compliance with NASDAQ regulations and enhance shareholder value.
How does this affect Me?
As a shareholder of Mangoceuticals Inc., this reverse stock split may have implications on your investment. While the overall value of your investment remains the same, the number of shares you hold will decrease. It is important to consult with financial advisors or brokers to understand the potential impact on your portfolio.
How does this affect the World?
From a broader perspective, the implementation of a reverse stock split by Mangoceuticals Inc. reflects the dynamic nature of the financial markets. This move can influence investor sentiment and market perception of the company’s stability and growth potential. It also demonstrates the company’s commitment to aligning with regulatory requirements and maintaining transparency in its operations.
Conclusion
In conclusion, the 1-for-15 reverse stock split by Mangoceuticals Inc. marks a strategic decision aimed at strengthening the company’s position in the market. By complying with NASDAQ regulations and adjusting its share structure, MangoRx is taking proactive steps to protect shareholder interests and enhance long-term value. It will be interesting to observe how this move impacts the company’s performance and investor confidence in the coming days.
