10:21 AM EDT, 10/16/2024 (MT Newswires) -- Sadot ( SDOT ) said Wednesday it will implement a 1-for-10 reverse stock split of its shares to bring the company into compliance with the minimum $1 per share rule for continued listing on Nasdaq.

The shares will start trading on a post-split basis when the market opens on Friday, the company said.

The reverse stock split will reduce the number of its shares to about 5.74 million from around 57.4 million.

Sadot ( SDOT ) shares were falling more than 14% in recent trading.

Price: 0.29, Change: -0.05, Percent Change: -14.24