![]() ![]() The Company has retained its transfer agent, Computershare, Inc., to act as its exchange agent for the reverse stock split. Based on the number of shares currently outstanding on March 9, 2022, the reverse stock split will reduce the number of shares of the Company’s common stock outstanding from approximately 44 billion pre-reverse split shares to approximately 4.4 million post-reverse split.Īll outstanding preferred shares, stock options, warrants, and equity incentive plans immediately prior to the reverse stock split generally will be appropriately adjusted by dividing the number of shares of common stock into which the preferred shares, stock options, warrants and equity incentive plans are exercisable or convertible by 10,000 and multiplying the exercise or conversion price by 10,000, as a result of the reverse stock split. Trading of the Company’s common stock will continue, on a split-adjusted basis, with the opening of the markets on Wednesday March 16, 2022. In connection with the reverse stock split, there will be no change in the nominal par value per share of $0.0001. The Company’s common stock will open for trading on Wednesday March 16, 2022, on a post-split basis.Īs a result of the reverse stock split, every 10,000 shares of the Company’s common stock issued and outstanding on the Effective Time will be consolidated into one issued and outstanding share, except to the extent that the reverse stock split results in any of the Company’s stockholders owning a fractional share, which fractional share will be in that case paid in cash. (OTC: RNVA) , today announced that effective at 5:00 pm, Eastern Time, on Ma(the “Effective Time”), the Company will effect a 1 for 10,000 reverse stock split of its outstanding common stock. WEST PALM BEACH, Fla., Ma(GLOBE NEWSWIRE) - Rennova Healt h, Inc. The opinions expressed in this article are those of the writer, subject to the Publishing Guidelines. On the date of publication, Eddie Pan did not hold (either directly or indirectly) any positions in the securities mentioned in this article. Pillars four and five involve increasing content collaborations, such as with its social media platform Lomotif, and pursuing other content outside of its planned acquisition. Vinco also plans on creating more subscription services on top of existing subscription services and to explore potential intellectual property and licensing opportunities. ![]() Pillars one through three involve using its planned acquisitions to create more content, in the form of TV shows, podcasts, documentaries and more. To do this, Vinco has created five key pillars for value creation. Vinco seeks to use its planned acquisition of the National Enquirer, the National Examiner and Globe to assist with this plan. With one Nasdaq requirement out of the way, Vinco can now place more emphasis on its core strategy, which is to leverage digital content and increase growth through acquisitions. ![]() In a determination letter dated April 14, Vinco stated that it would file the 10-K by June 2 and that it “continues to remain confident that it will file its 10-K by that date.” ![]() Vinco has yet to file its Form 10-K for the year ended Dec. However, the company is still on the hook for another Nasdaq requirement. A failure to meet this requirement could result in a delisting from the exchange. The approval of the reverse split under the Company’s plan to maintain its Nasdaq listing, together with our ongoing refocusing efforts, better positions us to realize the great potential we see ahead,” said CEO James Robertson.īBIG Stock Begins Trading on Reverse Split Adjusted BasisĪs echoed by Robertson, Vinco executed the reverse split to meet the Nasdaq minimum price requirement of $1. “We wish to thank our investors for their continued support as we work to refocus Vinco’s operations. Any shareholder owning fractional shares as a result of the split will have their shares rounded up to the nearest whole share. The share consolidation, approved by shareholders at Vinco’s last shareholder meeting, will reduce common stock outstanding to about 13 million from 260 million shares. Shares of Vinco Ventures (NASDAQ: BBIG) are plunging lower by about 20% after the company enacted a 1-for-20 reverse stock split, effective today, May 11. InvestorPlace - Stock Market News, Stock Advice & Trading Tips ![]()
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