The Company’s common stock will begin trading on a split-adjusted basis on April 21, 2023
Ouster, Inc. (NYSE:OUST) (“Ouster” or the “Company”), a leading provider of high-performance lidar sensors for the automotive, industrial, robotics, and smart infrastructure industries, announced today that its previously announced 1-for-10 reverse stock split (“reverse split”) of the Company’s common stock, par value $0.0001 per share, and corresponding common stock adjustment became effective at 4:01 p.m. Eastern Time on April 20, 2023. The Company’s common stock will begin trading on a split-adjusted basis on the New York Stock Exchange (“NYSE”) when the markets open on Friday, April 21, 2023, under the existing trading symbol “OUST” and new CUSIP number: 68989M 202.
The reverse split affected all issued and outstanding shares of common stock. As a result of the reverse stock split, every 10 shares of the Company’s issued and outstanding common stock automatically combined into one share of issued and outstanding common stock. No fractional shares will be issued as a result of the reverse stock split. Any fractional shares resulting from the reverse stock split will be rounded up to the nearest whole share of common stock. The reverse stock split affects all stockholders uniformly and will not alter any stockholder’s percentage interest in the Company’s outstanding common stock, except for adjustments that may result from the treatment of fractional shares, as described above.
The terms of outstanding warrants and equity-based awards (including exercise price and number of shares issuable thereunder) are being proportionately adjusted, in accordance with the terms of the applicable agreement. Specifically, following effectiveness, every 10 shares of the Company’s common stock that may be purchased pursuant to the exercise of warrants now represent one share of the Company’s common stock that may be purchased pursuant to such warrants. Accordingly, for the Company’s warrants trading under the symbol “OUST.WS”, every 10 warrants will be exercisable for one share of common stock at an exercise price of $115 per share of common stock, and for the Company’s warrants trading under the symbol “OUST.WSA”, every 10 warrants will be exercisable for 0.6153 shares of common stock at an exercise price of $140.20 per 0.6153 shares of common stock. The CUSIP numbers for the Company’s warrants will not change. Per the terms of the applicable warrant agreement, no fractional shares will be issued upon exercise of a warrant.
