Credit: BLAST Premier and Michal Konkol

Astralis stock skyrockets after strategic review announcement

The Danish Organization is considering a delisting of the Company’s shares.

Yesterday Astralis announced that their board has decided to initiate a strategic review to consider the future position of the Company.

The reason behind the review is the “discount” price, that the Astralis stock has been traded at lately. In December 2019, Astralis was introduced to the Nasdaq Copenhagen Stock Exchange at a price of DKK 8.95. At the start of this week, the shares were traded around a price of DKK 1.2. The 85% devaluation of the price is what has caused the Astralis Board of Directors to conduct a strategic review that will include the assessment of the following possibilities:

1)     Delisting of the Company’s shares

2)     A combination with another company,

3)     An issuance of new shares

4)     A sale of all or some of the Company’s shares and/or assets

Combinations of all or some of the four possible transactions may also be the outcome of the strategic review.

Astralis also informs, that "there can be no certainty as to the outcome of the strategic review nor whether any potential transaction would be successfully completed."

Yesterday’s announcement kickstarted the Astralis stock, which saw an increase of 58,5% shortly before the closing hour. In the grand scheme of things, the stock is still down 77% since the launch of the IPO. At this moment the stock is traded at DKK 1.93.

In their latest annual report, Astralis expects a positive EBITDA (Earnings Before Interest Taxes Depreciation and Amortization) for 2023.

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