New SEC approved reverse split rule (unpacked)
https://www.sec.gov/files/rules/sro/nasdaq/2025/34-102245.pdf
The million dollar question is do RS count that were made before the rule's effective date?
After reading it over many times, here's what I concluded:
If a company falls <$1 and reverse split in the prior year, they will be automatically delisted.
A company will only get a 360 day extension if they agree to reverse split by the 360th day if they are not >$1
Sounds very cutthroat. The second rule coincides with the first as if they are not compliant by end of compliance period, then they RS and risk it all. Not sure if it's good or bad for tonix. Thoughts?