08:47 AM EDT, 09/19/2024 (MT Newswires) -- Arqit Quantum ( ARQQ ) said Thursday its board approved a 1-for-25 reverse share split.

The company's stock will begin trading on a split-adjusted basis on Nasdaq from Sept. 25, Arqit Quantum ( ARQQ ) said.

The provider of cybersecurity services said it expects to regain compliance with Nasdaq's minimum bid price requirement by implementing the reverse share split.

Shares of the company fell 3.6% in recent premarket activity.

Price: 0.2796, Change: -0.01, Percent Change: -3.59