Remote Monitoring and Control Solutions Provider Acorn Announces 1-for-16 Reverse Stock Split Intended to Make its Shares Accessible to a Broader Range of Investors
WILMINGTON, Del., Sept. 07, 2023 (GLOBE NEWSWIRE) — Acorn Energy, Inc. (OTCQB:ACFN), a provider of remote monitoring and control solutions for stand-by power generators, gas pipelines, air compressors and other critical industrial equipment, announced that its Board of Directors has approved a reverse split of its Common Stock at a ratio of 1-for-16. The reverse split is intended to increase the market price of the Company’s Common Stock and make Acorn’s shares accessible to a broader range of investors, including institutions and those unable to purchase or recommend low-priced stocks.
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