Dyadic Under $1 as Investors Eye June Vote
Dyadic International Inc. traded close to 72 cents on Friday on Nasdaq, almost flat for the day. The shares are still below an important listing level with under two weeks until shareholders vote on a reverse stock split. The company had a market cap of about $26.2 million, and trading volume was light. Why does the stock matter? Dyadic is seeking shareholder approval for a reverse stock split, asking holders to vote on a ratio between 2-for-1 and 10-for-1 at its June 18 annual meeting. The proposal would combine existing shares and could push up the per-share price without changing Dyadic’s underlying value.