Allurion Technologies Approves 1-for-25 Reverse Stock Split, Stock Down In Pre-Market

(RTTNews) - Allurion Technologies Inc. (ALUR), Tuesday announced that its board has approved 1-for-25 reverse stock split.

The company expects the reverse stock split to increase the market price for its common Stock and cure the deficiency in the Minimum Price Requirement.

With the reverse stock split, taking effect on January 3, every twenty five of the company's issued shares of Common Stock will be combined into one issued share of Common Stock, without any change to the par value per share.

During the pre-market hours, Allurion's stock is trading at $0.32, down 7.81 percent on the New York Stock Exchange.