06:02 PM EDT, 03/11/2024 (MT Newswires) -- Aeva Technologies ( AEVA ) said late Monday it expects to implement a 1-for-5 reverse split of its stock, effective March 18, to increase its per-share trading price to meet the New York Stock Exchange's price criteria for continued listing.

The company expects its shares to start trading on a split-adjusted basis March 19.

Aeva ( AEVA ) said the reverse split will reduce the number of shares to about 52.8 million from around 263.8 million shares.