BLACKROCK Municipal Income TRUST V.BFK.P

Reverse Split

[Keeler]

Not sure why burnt says I was wrong ins aying a Hexo reverse split was coming.
Hexo proposed it in February - and it was subsequently approved by shareholder vote.
Where did he get his $1.30 year end price? moomoocow or newdirty?

I've also posted that it wouldnt surprise me if they decide NOT to actually do the reverse split, as 14-1 wouldn't achieve much other than very short term compiance for the NASDAQ listing (before the inevitable subsequent sp drop)

Ironic that Hexo announced at the same time they were expanding the board from 10 members to 12 - and the new memberrs would receive the 'unallocated rewards' udner the incentive plan. I guess 10 incompetments board members couldnt get the job done - so their solution was to add a couple more?

Hexo Corp Proposes Share Consolidation To Shareholders Again

  February 14, 2022 4:37 PM   Jay Lutz  4 Comments Hexo Corp

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In a move surprising absolutely no one, Hexo Corp (TSX: HEXO) has put forth a resolution to consolidate its shares, again. The resolution was included within the firms Notice of Annual and Special Meeting of Shareholders filed by the firm earlier today.

The consolidation proposed by the company is a result of the firm falling out of listing compliance with the Nasdaq. Under Nasdaq regulations, firms must maintain a share price of US$1.00 or higher to remain in good standing with the exchange. Following a continued fall from grace for the cannabis producer, the firm on January 31 announced it had fallen out of compliance and had 180 days to correct the issue.

The share consolidation proposed by the firm this morning consisted of a range of options for the company, ranging from a 1 for two reverse split to that of a one for fourteen reverse split. If approved, the shareholder resolution would permit the firms board of directors to ultimately elect at what ratio the firm consolidates, within the bounds of that range.

Hexo Corp is notably not new to share consolidations, with the company being forced to undergo a consolidation as recently as December 2020. At the time, the firm had initially proposed a one for eight consolidation with shareholders, but due to a bump in its equity, the firm ultimately enacted a one for four consolidation on December 23, 2020.

Also proposed at the special meeting by the company is the expansion of its board from ten to twelve members, and to approve the unallocated awards under the firms omnibus long-term incentive plan.