ETHZilla to implement 1:10 reverse stock split to boost share price
Jinse Finance reported that Ethereum treasury company ETHZilla (stock code: ETHZ) announced it will implement a 1:10 reverse stock split effective October 20, aiming to reduce the number of outstanding shares and raise its exchange-listed share price to above $10, thereby attracting large mutual fund investors subject to minimum share price requirements. The company stated that this move is intended to expand institutional investor participation, enabling large institutions to access collateral and margin facilities associated with stocks priced above $10. ETHZilla officially changed its name after receiving support from Peter Thiel's Founders Fund in August this year, and previously boosted its share price through a $250 million stock buyback and by allocating part of its ETH holdings to DeFi applications. More than 60 institutions and crypto investors participated in the company's PIPE transaction, including Borderless Capital, GSR, Polychain Capital, and well-known angel investors.
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