EMBKW - Embark Technology announces 1-for-20 reverse stock split

• Embark Technology ( NASDAQ: EMBK ) said a 1-for-20 reverse stock split became effective after market close on Tuesday.
• EMBK's class A shares will start trading on a split-adjusted basis when the market opens on Wednesday (Aug. 17).
• Based on EMBK's last close, the implied post-split share price is ~$16.56.
• EMBK effected the reverse stock split to comply with the minimum bid price rule for continued listing on the Nasdaq Global Market.
• EMBK's warrants will continue to be traded under the ticker "EMBKW" and they will be impacted by the same ratio upon exercise.
• No fractional shares will be issued in connection with the reverse stock split.

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