TRxADE Health (NASDAQ: MEDS) announced that its board of directors has approved a 1-for-15 reverse stock split of its common stock. The reverse stock split took effect at 11:59 p.m. Eastern Time on June 21, 2023, and is effective as of the opening of business on June 22, 2023. As a result, the company’s 10,210,878 outstanding shares of common stock have been reduced to 680,726. Any stockholders owning a number of shares not evenly divisible by the reverse split ratio will be entitled to the rounding up of their fractional share to the nearest whole share. The reverse stock split will not have an impact on the overall economic value of the company; however, reduction of the number of common shares outstanding is expected to result in a corresponding increase in the bid price of the company’s common stock. TRxADE’s shares of common stock will continue to trade on the Nasdaq Capital Market under the symbol MEDS and under a new CUSIP number, 89846A 405. The company believes that the reverse stock split will help to increase the marketability of its stock to a broader range of potential investors.
To view the full press release, visit https://ibn.fm/FB3Dn
About TRxADE Health Inc.
TRxADE Health is a health services IT company focused on digitalizing the retail pharmacy experience by optimizing drug procurement, the prescription journey and patient engagement in the U.S. The company operates the TRxADE drug procurement marketplace serving a total of 14,400+ members nationwide. For more information on TRxADE Health, visit the company’s IR website at investors.trxadegroup.com.
NOTE TO INVESTORS: The latest news and updates relating to MEDS are available in the company’s newsroom at http://ibn.fm/MEDS
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