C3is Stock Rises Over 15% After Hours: Here's What You Should Know

C3is Inc. (NASDAQ:CISS) surged 15.59% to $2.15 in after-hours trading on Tuesday, following the company's 1-for-20 reverse stock split that took effect on Sunday.

According to Benzinga Pro, the stock of the Greece-based shipping holding company closed regular trading at $1.86, down 9.71%.

Split Begins Trading Monday

The reverse split became effective at 11:59 p.m. Eastern time on Sunday, according to a Securities and Exchange Commission filing.

The company's common stock began trading on a split-adjusted basis on the Nasdaq Capital Market at Monday's open.

Share Count Reduced to 1.23 Million

According to the filing, the reverse stock split reduced outstanding shares from about 24.7 million to about 1.23 million.

No fractional shares were issued in connection with the reverse split. ...