09:36 AM EDT, 04/10/2024 (MT Newswires) -- C3IS ( CISS ) said Wednesday that its board of directors has approved a one-for-100 reverse stock split of its common stock, effective Thursday.

The company's shares will begin trading on a split-adjusted basis on Nasdaq at the start of trading Friday.

Shares of C3IS ( CISS ) were down 23% in recent trading.

Price: 0.03, Change: -0.01, Percent Change: -23.87