LiqTech International, Inc. (NASDAQ:LIQT), a clean technology company that manufactures and markets highly specialized filtration products and systems, today announced that the company will effect a 1-for-8 reverse split of its issued and outstanding shares of common stock. The reverse stock split will become effective May 26, 2023 at 12:01 a.m. PDT. Shares of the company’s common stock will trade on a split-adjusted basis on The NASDAQ Capital Market, as of the opening of trading on Friday, May 26, 2023. The new CUSIP number for the Company’s common stock will be 53632A 300.
The reverse stock split is being affected as part of the company’s plan to regain compliance with the $1.00 minimum bid price continued listing requirement of The NASDAQ Capital Market.
When the reverse stock split becomes effective, every eight shares of LiqTech International’s common stock will be automatically combined into one new share of common stock. No fractional shares will be issued, and no cash or other consideration will be paid. Instead, the company will issue one whole share of the post-split common stock to any stockholder of record who otherwise would have received a fractional share as a result of the reverse stock split.
The reverse stock split will reduce the number of shares of outstanding common stock from approximately 45.3 million shares to approximately 6.0 million shares.
LiqTech International’s transfer agent is Securities Transfer Corporation. Stockholders holding paper certificates representing pre-split holdings can contact our transfer agent by calling (469) 633-0101 for the procedure to exchange existing stock certificates for new stock certificates or book-entry shares. Certificates representing pre-split holdings will be deemed to represent the stockholder’s past split holdings until the stockholder presents the certificate to the transfer agent. Stockholders who are holding their shares in electronic form at their brokerage firms do not have to take any action as the effects of the reverse stock split will automatically be reflected in their brokerage accounts.
