AREB....RS effective this a.m. The latest casualty $3.80 LoL AMERICAN REBEL HOLDINGS, INC. (NASDAQ: AREB) ANNOUNCES EFFECTIVENESS OF 1-FOR-9 REVERSE STOCK SPLIT AT THE OPEN OF TRADING ON OCTOBER 2, 2024
2024-10-02 05:00 ET - News Release
Nashville, TN, Oct. 02, 2024 (GLOBE NEWSWIRE) -- American Rebel Holdings, Inc. (NASDAQ: AREB) — America’s Patriotic Brand (the “Company”), today announced the effectiveness of its 1-for-9 reverse stock split of its outstanding shares of common stock, par value $0.001 per share (the “Common Stock”), as of 12:00 a.m. on October 2, 2024.
The Company’s Common Stock will begin trading on a reverse stock split-adjusted basis at the opening of the Nasdaq Capital Market (“Nasdaq”) on Wednesday, October 2, 2024. Following the reverse stock split, the Common Stock will continue to trade on Nasdaq under the symbol “AREB” with the new CUSIP number, 02919L505. The reverse stock split is intended for the Company to regain compliance with the minimum bid price requirement of $1.00 per share of common stock for continued listing on Nasdaq.
Key information
New CUSIP Number: 02919L505
Every 9 shares will be exchanged for 1 share
Fractional Shares will be rounded up
Post spilt approximately 1.06M shares will be outstanding
The reverse stock split will not change the authorized number of shares of our Common Stock. No fractional shares will be issued in connection with the reverse stock split and all such fractional interests will be rounded up to the nearest whole number of shares of Common Stock.
In addition, the reverse stock split will apply to the Common Stock issuable upon the exercise of the Company’s outstanding derivative securities, with proportionate adjustments to be made to the exercise prices and number of derivates thereof and under the Company’s equity incentive plans.
The reverse stock split will reduce the number of issued and outstanding shares of the Company’s common stock from approximately 9.5 million to approximately 1.06 million.