Business
Cosmos Holdings Inc. Changes its Name to Cosmos Health Inc. and Announces a 1-For-25 Reverse Stock Split
CHICAGO, IL / ACCESSWIRE / December 16, 2022 / Cosmos Holdings Inc. d/b/a Cosmos Health ("the Company") (Nasdaq:COSM), a global healthcare group with
About this update from Cosmos Health Inc.
[{"type":"text","content":"CHICAGO, IL / ACCESSWIRE / December 16, 2022 / Cosmos Holdings Inc. d/b/a Cosmos Health (\"the Company\") (Nasdaq:COSM), a global healthcare group with proprietary lines of nutraceuticals and distributor of pharmaceuticals, branded generics, OTC medications and medical devices, announced a reverse stock split with a ratio of 1-for-25 (one-for-twenty five) effective at the opening of the business day on Friday, December 16, 2022. The CUSIP number of the Company after the split will change to 221413-305. The reverse stock split was authorized at the Company's Annual General Meeting (\"AGM\") on December 2, 2022 and was approved by the Company's Board of Directors on December 15, 2022.The Company also announced that it changed its name to Cosmos Health Inc. as approved at the Company's AGM on December 2, 2022. The name change will also be effective on or at the opening of the business day on Friday, December 16, 2022.Greg Siokas, Chief Executive Officer of Cosmos Health stated: \"We are pleased to proceed with the reverse split of our stock which is required for us to re-gain compliance with NASDAQ's minimum bid price requirement. Being listed on NASDAQ has been a key part of our strategy to fund our growth opportunities for the benefit of all our shareholders. We uplisted on NASDAQ in February 2022 and, to-date, we have secured funding that has enabled us to not only significantly de-lever our balance sheet but also pursue our business and growth plan. I am very excited about our business prospects and financial stability, and, firmly believe in the future success of Cosmos and in our ability to rapidly grow as an international health and wellness company with multiple strong brands. To better align our corporate mission, focus and nature of our activities with our name, we changed our name to Cosmos Health Inc.\"About Cosmos Health, Inc.Cosmos Health Inc. (Nasdaq:COSM) is a global healthcare group that was incorporated in 2009 and is headquartered in Chicago, Illinois. Cosmos Health is engaged in the nutraceuticals sector through its own proprietary lines of products \"Sky Premium Life\" and \"Mediterranation.\" Additionally, the Company is operating in the pharmaceutical sector through the provision of a broad line of branded generics and OTC medications and is involved in the healthcare distribution sector through its subsidiar...