(RTTNews) - Rubico Inc. (RUBI) said on Friday that its board has approved a 1-for-30 reverse stock split of its common shares, which will take effect when trading opens on December 2, 2025.
The stock will still be listed on the Nasdaq as RUBI, but it will have a new CUSIP number, Y1250N 206. Following the split, every 30 shares will turn into just one share. This will cut the outstanding total from around 61.4 million down to about 2 million.
Rubico mentioned that this change is intended to help increase its share price and ensure it stays in compliance with Nasdaq listing requirements.
RUBI is currently trading at $0.1494, down $0.0668 or 30.90 percent on the Nasdaq.
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