Stellar Biotechnologies, Inc. (SBOTF) Preparing for Uplisting to NASDAQ Capital Market with Reverse Stock Split
In continued preparation for its planned uplisting to the NASDAQ Capital Market, Stellar Biotechnologies recently announced that it will proceed with a consolidation of its issued and outstanding shares on the basis of one post-consolidated common share for every 10 pre-consolidated shares, pending regulatory approval. The reverse split is intended to fulfill one of the quantitative requirements for listing on the NASDAQ exchange. “The reverse stock split is a key step in our growth strategy,” Frank Oates, president and chief executive officer of Stellar, stated in a news release. “We believe that the proposed uplisting to the NASDAQ Capital Market…