05:58 PM EDT, 05/16/2024 (MT Newswires) -- Earlyworks ( ELWS ) said the planned 1-for-5 reverse split of its American depositary shares became effective Thursday.

The company said Thursday the change in the ADS ratio from one ADS representing one ordinary share is intended to bolster trading liquidity, boosting prospects for the securities to regain compliance with the Nasdaq minimum bid price requirement.

Earlyworks ( ELWS ) shares fell 3.3% higher in recent after-hours activity.

Price: 2.9200, Change: -0.10, Percent Change: -3.31