Nordic American Offshore will run a 10-for-1 reverse stock split to get back into the good graces of the New York Stock Exchange.
The Emanuele Lauro-led offshore company announced the move, set for 28 January, on Wednesday.
Nordic American Offshore shares, of with 73.7 million are outstanding, were trading as low as $0.33 cents in late December and closed Thursday at $0.45.
The company's shares last closed over $1 in September. In August, the company was notified it was notified it was not complying with the $1 minimum closing bid price.
