Urgent.ly Inc., trading under the symbol NASDAQ:ULY, is a leading provider of digital roadside and mobility assistance technology in the U.S. The company has announced a reverse stock split set for March 18, 2025, exchanging 1 share for every 12 shares.
This strategic decision aims to help ULY meet Nasdaq's minimum bid price requirement of $1.00 per share. The reverse stock split, approved by Urgent.ly's stockholders, will take effect at the close of trading on March 17, 2025.
This decision comes as ULY's stock is currently priced at $0.30, having experienced a significant decrease of 40.35%, or -$0.20. The stock has fluctuated between a low of $0.252 and a high of $0.4022 today.
Urgent.ly's market capitalization is approximately $4.13 million, with a trading volume of 1,733,269 shares. Over the past year, the stock has seen a high of $3.31 and a low of $0.252. The reverse stock split aims to stabilize the stock price and regain compliance with Nasdaq's Marketplace Rule 5550(a)(2). The reverse stock split will adjust the stock's trading price, potentially making it more attractive to investors.
By consolidating shares, Urgent.ly seeks to enhance its market position and ensure continued listing on the Nasdaq exchange. This move reflects the company's commitment to maintaining its presence in the competitive digital roadside assistance market.
