On January 12, Ault Alliance Announced The Board Approved A 1-For-25 Reverse Stock Split Of The Common Stock, Anticipates That Beginning With The Opening Of Trading On January 17, 2024
Portfolio Pulse from Benzinga Newsdesk
Ault Alliance, Inc. (NYSE:AULT) announced the approval of a 1-for-25 reverse stock split of its common stock, effective January 16, 2024. The stock will trade on a split-adjusted basis starting January 17, 2024. The reverse stock split was approved by stockholders at the annual meeting, where they also elected seven director nominees and ratified Marcum LLP as the independent accounting firm. The reverse stock split will affect all issued and outstanding shares and the number of shares available under equity incentive plans. No fractional shares will be issued; stockholders will receive cash for fractional shares. Computershare is the exchange and transfer agent for the reverse stock split.
January 16, 2024 | 5:34 pm
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Ault Alliance, Inc. has approved a 1-for-25 reverse stock split, which will take effect on January 16, 2024, and the stock will begin trading on a split-adjusted basis on January 17, 2024. This action is likely to reduce the number of outstanding shares and could potentially increase the stock price due to the reduced supply of shares.
Reverse stock splits often aim to increase the market price of a company's stock by reducing the number of shares outstanding, which can make the stock more appealing to investors. However, the impact on the stock price can be uncertain as market perception and fundamentals also play significant roles.
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