Ethereum finance company ETHZilla Corporation has announced a 1:10 reverse stock split, set to take effect on October 20th. The move aims to elevate the company's Nasdaq-listed share price above $10, making it more attractive to large mutual funds that have minimum share price requirements. This decision follows a special shareholders meeting approval on July 24.
The reverse split comes as ETHZilla's share price fell over 7% to approximately $1.77. The company, which rebranded from 180 Life Sciences Corp. in August after securing backing from Peter Thiel's Founders Fund, seeks to expand institutional investor participation by enhancing access to collateral and margin availability at a higher share price.
ETHZilla Announces 1:10 Reverse Stock Split to Boost Share Price
Disclaimer: The content provided on Phemex News is for informational purposes only. We do not guarantee the quality, accuracy, or completeness of the information sourced from third-party articles. The content on this page does not constitute financial or investment advice. We strongly encourage you to conduct you own research and consult with a qualified financial advisor before making any investment decisions.

