AVAX One Reclaims Nasdaq Compliance After 1-for-12 Reverse Stock Split

AVAX4.01%
NDAQ3.67%
AVAX One, a crypto treasury firm that holds Avalanche (AVAX), announced Thursday (July 9) that it regained compliance with Nasdaq's minimum bid price requirement after shares closed above the $1.00 threshold for 10 consecutive trading days through June 29. The company conducted a 1-for-12 reverse stock split on June 15, reducing share supply from over 92.3 million to under 7.7 million shares, enabling it to meet Listing Rule 5550(a)(2). Interim CEO Pete Wylie stated the company is now focused on executing growth and profitability initiatives.
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