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MedAvail Announces 1-for-50 Reverse Stock Split

Provided By GlobeNewswire

Last update: Jul 31, 2023

PHOENIX, Ariz., July 31, 2023 (GLOBE NEWSWIRE) -- MedAvail Holdings, Inc. (Nasdaq: MDVL) (“MedAvail” or the “Company”), an innovative pharmacy technology company, announced that it will conduct a reverse stock split of its outstanding shares of common stock at a ratio of 1-for-50. The reverse stock split will become effective at 5:00 p.m. Eastern time, on July 31, 2023. The Company’s common stock will begin trading on a post-split basis at the market open on August 1, 2023, under the Company’s existing trading symbol “MDVL”. The CUSIP number for the common stock following the reverse stock split will be 58406B 202. The reverse stock split is part of the Company’s plan to regain compliance with the Minimum Bid Price Requirement of $1.00 per share for continued listing on The Nasdaq Capital Market.

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