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BROOMFIELD, Colo. - Aclarion, Inc. (NASDAQ: ACON, ACONW), a healthcare technology company with a market capitalization of $0.76 million, has announced a 1-for-27 reverse stock split of its common stock, set to take effect before the market opens on Friday, March 28, 2025. This decision follows the approval from the company’s stockholders on September 23, 2024, to amend the Certificate of Incorporation, allowing the Board of Directors to determine the specific ratio for the reverse stock split.
The reverse stock split aims to elevate the per-share price and bid price of Aclarion’s common stock, thereby assisting the company in maintaining compliance with Nasdaq’s Minimum Bid Price Rule. According to InvestingPro data, the stock has experienced significant volatility, with a 98.7% decline over the past six months, highlighting the urgency of this corporate action. The company’s common stock will be assigned a new CUSIP number (655187409) and is expected to begin trading on a split-adjusted basis from the effective date.
As a result of the reverse stock split, every twenty-seven issued shares of Aclarion’s common stock will be consolidated into one share. No fractional shares will be issued; instead, fractional shares resulting from the reverse split will be rounded up to the nearest whole share at the participant level with the Depository Trust Company (DTC).
The reverse stock split will also affect the company’s outstanding warrants, stock options, and restricted stock units, with an adjustment to the number of shares into which these securities are convertible or exercisable, as well as a proportional adjustment to their conversion or exercise prices.
Stockholders with shares held in brokerage accounts will see their holdings automatically adjusted to reflect the reverse stock split. Those holding physical stock certificates will receive instructions from Aclarion’s transfer agent, Vstock Transfer, on how to exchange their shares.
Following the reverse stock split, Aclarion anticipates a reduction in its issued and outstanding common shares from approximately 15.72 million pre-split to around 582,000 post-split shares. The company’s financial health score currently stands at 1.21 (WEAK) on InvestingPro’s assessment scale, with a current ratio of 2.8 indicating sufficient liquid assets to meet short-term obligations. Subscribers to InvestingPro can access 12 additional key insights about Aclarion’s financial position and market performance.
Aclarion specializes in leveraging Magnetic Resonance Spectroscopy (MRS), biomarkers, and augmented intelligence algorithms through its SaaS platform, Nociscan, which aids physicians in identifying the sources of chronic low back pain. The company’s revenue declined by 41.4% in the last twelve months, with a gross profit margin of -69.45%, according to InvestingPro analysis, which currently indicates the stock may be undervalued based on its proprietary Fair Value model.
This article is based on a press release statement from Aclarion, Inc. The company has made forward-looking statements regarding future results and prospects, which are subject to risks and uncertainties that could affect the company’s actual performance.
In other recent news, Aclarion, Inc. has made significant strides in its financial and operational endeavors. The company reported a strengthened cash position of approximately $15.2 million, surpassing Nasdaq’s equity requirements, following shareholder approval to issue common shares related to its Series A and Series B warrants. Aclarion also announced an expansion of its Nociscan centers in New York and New Jersey, in partnership with RadNet, to meet the increasing demand for its diagnostic tool aimed at chronic low back pain. Furthermore, the company has secured nearly $20 million in funding to support the pivotal CLARITY trial, led by Dr. Nicholas Theodore of Johns Hopkins, which will evaluate Nociscan’s effectiveness in surgical outcomes.
Shareholders have approved key proposals, including the issuance of additional shares and a charter amendment to increase authorized shares, reflecting strong support for Aclarion’s strategic plans. Additionally, Aclarion received a Notice of Allowance from the U.S. Patent and Trademark Office for a patent related to the use of magnetic resonance spectroscopy (MRS) to measure propionic acid, expanding its proprietary rights. This patent enhances the company’s capability to commercialize its technology beyond discogenic low back pain. These recent developments indicate Aclarion’s commitment to innovation and compliance with trading regulations.
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