Generation Income Properties (GIPR) Approves 1-for-10 Reverse Stock Split to Regain Nasdaq Compliance

Generation Income Properties Inc. (NASDAQ: GIPR) has approved a 1-for-10 reverse stock split. This action aims to raise its share price above the minimum $1.00 bid price required by Nasdaq to avoid delisting. Additionally, the company amended the terms of its Series B-1 and B-2 preferred units to reclassify them as permanent equity, seeking to meet Nasdaq's minimum $2.5 million stockholders' equity requirement. Following the announcement, GIPR stock dropped approximately 24% in premarket trading.