09:21 AM EST, 11/29/2024 (MT Newswires) -- Mainz Biomed ( MYNZ ) said Friday it is implementing a one-for-40 reverse stock split of its common stock, effective Dec. 3, following the board's decision on Nov. 20.

No fractional shares will be issued. Instead, Mainz Biomed ( MYNZ ) will pay cash depending on the value of the fractional shares, the company said.

The company's shares were down more than 12% in recent premarket trading.

Price: 0.22, Change: -0.032, Percent Change: -12.50