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MicroVision Board Approves 1-for-15 Reverse Stock Split

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MicroVision's (MVIS) board approved a 1-for-15 reverse stock split to regain compliance with Nasdaq's minimum bid price requirement for continued listing, the company said Wednesday.

The reverse stock split will be effective Aug. 1, reducing the company's outstanding shares proportionally and its authorized shares to 150 million from 510 million, it said.

MicroVision said its shares will trade on a post-split basis from Aug. 3.

MicroVision shares were down more than 10% early Wednesday.

Price: $0.31, Change: $-0.04, Percent Change: -10.29%

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