Aclarion, Inc. has announced a Special Meeting of Stockholders to be held on September 23, 2024, where stockholders will vote on a proposed reverse stock split. The reverse stock split would allow the board of directors to combine outstanding shares of common stock into a lesser number of shares, with the ratio ranging from one-for-five to a maximum of one-for-fifty, at the board's discretion. This action is intended to increase the per-share market price of Aclarion's common stock to comply with Nasdaq's minimum bid price requirement. The board has fixed August 20, 2024, as the record date for stockholders entitled to vote. The board recommends a vote 'FOR' the reverse stock split proposal. The reverse stock...Show More

Aclarion, Inc. has announced a Special Meeting of Stockholders to be held on September 23, 2024, where stockholders will vote on a proposed reverse stock split. The reverse stock split would allow the board of directors to combine outstanding shares of common stock into a lesser number of shares, with the ratio ranging from one-for-five to a maximum of one-for-fifty, at the board's discretion. This action is intended to increase the per-share market price of Aclarion's common stock to comply with Nasdaq's minimum bid price requirement. The board has fixed August 20, 2024, as the record date for stockholders entitled to vote. The board recommends a vote 'FOR' the reverse stock split proposal. The reverse stock split, if approved, could be effected within one year of stockholder approval. Aclarion received a notice from Nasdaq on April 8, 2024, indicating non-compliance with the minimum bid price requirement. The reverse stock split is aimed at making the stock more attractive to institutional investors and enhancing liquidity. The board may choose not to proceed with the reverse stock split if it is deemed not in the best interest of the company or stockholders.