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Investing.com -- Movano Inc (NASDAQ:MOVE) stock dropped 9.3% in premarket trading Wednesday after the company announced it will implement a 1-for-10 reverse stock split effective October 10, 2025.
The reverse split is aimed at increasing the company’s bid price to regain compliance with Nasdaq’s minimum bid price requirement for continued listing. Movano’s stock will continue trading on The Nasdaq Capital Market under the same "MOVE" symbol when markets open on October 10.
Following the split, every 10 shares of Movano’s pre-split common stock will be automatically reclassified into one new share, reducing the total outstanding shares from approximately 8.3 million to 0.8 million. The number of authorized shares will remain unchanged.
Stockholders who would otherwise receive fractional shares will instead receive cash for these partial interests. The company noted that proportionate adjustments will be made to the exercise prices and number of shares underlying Movano’s equity plans and grants.
The reverse split was authorized by Movano stockholders at the company’s annual meeting on September 26, 2025, with the final ratio determined by the Board of Directors. The par value of the common stock will not be affected by the split.
Movano’s transfer agent, Pacific Stock Transfer Company, will handle the exchange process. Stockholders holding shares electronically in book-entry form will receive transaction notices, while those holding shares through brokers will have their positions adjusted according to their brokers’ processes.
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