Dexcom (Nasdaq:DXCM) recently filed a restated certificate of incorporation to effect a four-for-one forward stock split.
Shares of DXCM were down 0.9% at $293.85 per share at market close on Friday, June 10. Following the stock split, shares moved down 75.33% to $72.50 before the market opened this morning.
At market open, shares were down 3.4% at $70.96.
On June 10, 2022, the company completed the filing that increases the total number of authorized shares of its common stock through the four-for-one split.
San Diego-based Dexcom, a leader in continuous glucose monitoring technology, upped its authorized shares of common stock from 200 million to 800 million through the maneuver.
The company’s board of directors previously approved the restated charter, which became effective upon its filing with the Secretary of State of Delaware on June 10, 2022, according to a news release.
