SMX (Security Matters) PLC disclosed that it may strategically effect additional reverse stock splits without further shareholder approval, which could decrease share liquidity and cause the stock price to decline.
Key takeaways
The company may effect additional reverse stock splits without shareholder approval under Ireland law.
Reverse stock splits could decrease liquidity of Ordinary Shares and cause stock price declines.
The company's decision will be based on market conditions, trading prices, and Nasdaq requirements.
Past reverse stock splits have increased odd-lot shareholders, potentially raising selling costs and difficulty.
Future reverse stock splits could risk Nasdaq issuing a deficiency notice or delisting the company.