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InspireMD implements 1-for-35 reverse stock split

Israel's InspireMD Inc. implemented a 1-for-35 reverse split of the company's common stock, effective Feb. 7.

The medical device company said its common stock will trade on the NYSE American on a split-adjusted basis, starting Feb. 8.

The split was approved by the company's stockholders at a ratio in the range of 1-for-25 to 1-for-50 at a Feb. 7 special meeting.

Following the split, the number of the company's outstanding shares will be reduced to 1.7 million from about 58.6 million, while the number of authorized shares will remain at 150 million.