ShiftPixy Inc. (NASDAQ: PIXY) announced it is planning a one-for-24 reverse stock split that will take effect on Sept. 30, according to a press release.

The Sunrise, Florida-based firm had received a letter on Sept. 15 from Nasdaq that shares in the company had closed below the marketplace’s $1 per share minimum for the previous 30 consecutive business days, according to a regulatory filing. The letter cautioned the company could be subject to delisting if share prices remain below $1.

Shares in ShiftPixy were up 103.5% today to nearly 89 cents as of 12:34 p.m. Eastern time, according to FT.com.

ShiftPixy had revenue of nearly $4.0 million in its fiscal third quarter ended May 31.

The company operates both as an employment administrative services provider and as a staffing provider in the restaurant and hospitality industries.