Allurion Technologies Inc. (ALUR) announced on Tuesday that its board of directors has authorized a 1-for-25 reverse stock split. The initiative aims to bolster the market price of its common stock and address the shortfall in meeting the Minimum Price Requirement.
The reverse stock split, effective January 3, will consolidate every twenty-five shares of the company's common stock into a single share, while maintaining the original par value per share.
In pre-market trading on the New York Stock Exchange, Allurion's stock is currently valued at $0.32, reflecting a 7.81 percent decrease.