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Phunware, Inc., a pioneer in Location Based SaaS solutions, announced the implementation of a 1-for-50 reverse stock split of its common stock, effective 5 PM Eastern Time on February 26, 2024. The reverse stock split is intended to increase the market price per share to regain compliance with the Nasdaq Capital Market's minimum bid continued listing requirement. The company's common stock will begin trading on a post-split adjusted basis on February 27, 2024, under the existing trading symbol 'PHUN'. The par value and rights of the common stock will remain unchanged, and the number of authorized shares will not be altered. Stockholders will not receive fractional shares; instead, they will be rounded up to the nearest whole share. The reverse stock split was approved by the Board following authorization from the stockholders at the annual meeting on December 20, 2023. Post-split, Phunware will have approximately 8 million shares of common stock issued and outstanding. The company's transfer agent, Continental Stock Transfer & Trust Company, will act as the exchange agent for the reverse stock split.
Phunware, Inc., a pioneer in Location Based SaaS solutions, announced the implementation of a 1-for-50 reverse stock split of its common stock, effective 5 PM Eastern Time on February 26, 2024. The reverse stock split is intended to increase the market price per share to regain compliance with the Nasdaq Capital Market's minimum bid continued listing requirement. The company's common stock will begin trading on a post-split adjusted basis on February 27, 2024, under the existing trading symbol 'PHUN'. The par value and rights of the common stock will remain unchanged, and the number of authorized shares will not be altered. Stockholders will not receive fractional shares; instead, they will be rounded up to the nearest whole share. The reverse stock split was approved by the Board following authorization from the stockholders at the annual meeting on December 20, 2023. Post-split, Phunware will have approximately 8 million shares of common stock issued and outstanding. The company's transfer agent, Continental Stock Transfer & Trust Company, will act as the exchange agent for the reverse stock split.
基于位置的SaaS解决方案的先驱Phunware, Inc. 宣布实施普通股的1比50反向拆分，自美国东部时间2024年2月26日下午5点起生效。反向股票拆分旨在提高每股市场价格，以重新遵守纳斯达克资本市场的最低出价继续上市要求。该公司的普通股将于2024年2月27日开始在拆分后调整后的基础上交易，现有交易代码为 “PHUN”。普通股的面值和权利将保持不变，授权股票的数量不会改变。股东不会获得部分股份；相反，他们将被四舍五入到最接近的整数。在2023年12月20日的年会上，经股东授权，董事会批准了反向股票拆分。拆分后，Phunware将发行和流通约800万股普通股。该公司的过户代理人大陆股票转让与信托公司将担任反向股票拆分的交易代理。
基于位置的SaaS解决方案的先驱Phunware, Inc. 宣布实施普通股的1比50反向拆分，自美国东部时间2024年2月26日下午5点起生效。反向股票拆分旨在提高每股市场价格，以重新遵守纳斯达克资本市场的最低出价继续上市要求。该公司的普通股将于2024年2月27日开始在拆分后调整后的基础上交易，现有交易代码为 “PHUN”。普通股的面值和权利将保持不变，授权股票的数量不会改变。股东不会获得部分股份；相反，他们将被四舍五入到最接近的整数。在2023年12月20日的年会上，经股东授权，董事会批准了反向股票拆分。拆分后，Phunware将发行和流通约800万股普通股。该公司的过户代理人大陆股票转让与信托公司将担任反向股票拆分的交易代理。
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