No fractional shares will be issued in connection with the reverse split, and stockholders who would otherwise be entitled to receive a fractional share will instead receive a cash payment equal to such fraction multiplied by the average of the closing sales prices of the Class A common stock (as adjusted to give effect to the reverse split) on the Nasdaq for the five consecutive trading days immediately preceding the effective date. The reverse split will not change the authorized number of shares of Class A common stock or preferred stock. Following the reverse split, the par value of the Class A common stock will remain unchanged at $0.01 per share. The number of shares available to be awarded under Greenlane's Third Amended and Restated 2019 Equity Incentive Plan, which was approved by stockholders at the Annual Meeting, will also be appropriately adjusted. All outstanding options, restricted stock awards, warrants and other securities entitling their holders to purchase or otherwise receive shares of Class A common stock will be adjusted as a result of the reverse split, as required by the terms of each security. The reverse split will affect all issued and outstanding shares of Class A common Stock. On June 2, 2023, the Board approved the reverse split at a ratio of one-for-10 and the Amendment was filed with the Secretary of State of the State of Delaware, which will become effective on Jat 5:01 PM Eastern Time, after the close of trading on the Nasdaq. The new CUSIP number for the Class A common stock following the reverse split will be 395330301.Īt Greenlane's annual meeting of stockholders on J(the "Annual Meeting"), Greenlane's stockholders approved the proposal to authorize Greenlane's board of directors (the "Board"), in its sole and absolute discretion, to file a certificate of amendment (the "Amendment") to Greenlane's amended and restated certificate of incorporation to effect the reverse split at a ratio to be determined by the Board, ranging from one-for-five to one-for-15. The reverse split is primarily intended to bring Greenlane into compliance with the minimum bid price requirement for maintaining its listing on the Nasdaq. ![]() Greenlane has requested that Greenlane's Class A common stock begin trading on June 6, 2023, on a post-reverse split basis on the Nasdaq under the existing symbol "GNLN." (NASDAQ:GNLN) ("Greenlane"), one of the largest global sellers of premium cannabis accessories, child-resistant packaging, and specialty vaporization products, today announced that it will effect a one-for-10 reverse stock split ("reverse split") of its Class A common stock, par value $0.01 per share ("Class A common stock"), that will become effective on Jat 5:01 PM Eastern Time, after the close of trading on The Nasdaq Global Market ("Nasdaq"). CNBC's Zack Guzman contributed to this report.BOCA RATON, FL / ACCESSWIRE / J/ Greenlane Holdings, Inc. Since the move last June, Apple shares have rallied at least 30 percent. ![]() Netflix follows Apple ( AAPL) as a wildly popular tech company to execute a 7-for-1 split. Read More Netflix stock hits record high preps for a split The move was anticipated this year after Netflix voting shareholders approved a share reauthorization, a preliminary step toward a split. As of last week, Netflix was the third-most expensive stock in the S&P 500 ( ^GSPC).Ī share split can make the stock more appealing to retail investors and, crucially for Netflix, more affordable to employees participating in its stock option program. ![]() In soaring almost 100 percent this year, Netflix shares have reached nearly $700. Trading at the post-split price will start July 15. It is payable on July 14 to stock owners of record at the July 2 close. The split will come in the form of a dividend of six additional shares for each outstanding share, Netflix said.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |