Viveve Medical Inc. said its board approved a 1-for-100 reverse stock split of its common shares.
The reverse stock split comes into effect after trading in the company's stock closes Sept. 18. The move will reduce the Englewood, Colo.-based medical technology company's issued and outstanding shares to 600,000 from about 60 million.
The split is also meant to help the company regain compliance with a listing requirement of the Nasdaq Capital Market.
VStock Transfer LLC is acting as the exchange agent for the reverse stock split.
