TRKA ..... Well guess what the cat dragged in...a NR !!! Troika Media Group Inc. Declares 1-for-25 Ratio for Previously Announced Reverse Stock Split
2023-05-31 09:30 ET - News Release
NEW YORK May 31, 2023 /PRNewswire/ -- Troika Media Group, Inc. (Nasdaq: TRKA) ("TMG" or the "Company"), a consumer engagement and customer acquisition solutions group, today announced that it will effect a 1-for-25 reverse stock split of its outstanding common stock. This will be effective for trading purposes as of the commencement of trading on June 1, 2023.
The reverse stock split was previously approved by the Board of Directors of TMG in accordance with Nevada law, under which no stockholder approval is required, and is intended to increase the per share trading price of TMG's common stock to satisfy the $1.00 minimum bid price requirement for continued listing on The NASDAQ Capital Market (Rule 5550(a)(1)). TMG's common stock will continue to trade on the NASDAQ Capital Market under the symbol "TRKA" and under a new CUSIP number, 89689F404. As a result of the reverse stock split, every 25 pre-split shares of common stock outstanding will become one share of common stock. The reverse stock split will also proportionately reduce the number of shares of authorized common stock from 800,000,000 to 32,000,000. The reverse split will also apply to common stock issuable upon the exercise of TMG's outstanding warrants, convertible securities, RSUs and stock options.