Post by
Lou52 on Oct 05, 2019 9:46pm
Reverse Split
FORM 8-K
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): October 4, 2019
LIGHTBRIDGE CORPORATION
Item 8.01 Other Events.
On October 4, 2019, Lightbridge Corporation (the “Company”) announced that the Company’s Board of Directors has approved a one-for-twelve reverse stock split of the Company’s common stock. The Company expects its common stock to begin trading on a split-adjusted basis as of Monday, October 21, 2019. As a result of the reverse stock split, it is expected that the number of outstanding shares of common stock will be reduced from 38,992,237 shares to 3,249,353 shares. Following the reverse stock split, the CUSIP for the Company’s common stock will be 53224K 302. No fractional shares will be issued in connection with the reverse share split. Each stockholder that would otherwise be entitled to receive a fractional share will instead be entitled to receive, in lieu of such fractional share, one whole share of common stock. It is expected that the reverse stock split will bring the Company in compliance with Nasdaq continued listing requirements.