Euroseas' stock has fallen significantly after the boxship owner said Monday that it would execute a 1-for-8 reverse stock split to remain a listed company.

The Aristides Pittas-led company's board of directors will implement the split on 18 December to regain compliance with Nasdaq Capital Market's minimum $1 listing requirement.

The shares, which declined $0.10 to close at $0.40 Tuesday, are scheduled to begin trading on a split-adjusted basis on 19 December.