RTON - Right on Brands to effect 1-for-250 reverse stock split
- Right on Brands ( OTCPK:RTON ) said its board has approved a 1-for-250 reverse stock split.
- The reverse stock split will reduce the total authorized shares to 100M with no par value. It will reduce the number of outstanding shares to ~23,445,178 from 5,861,294,524.
- "We are pleased to announce this reverse stock split as we believe it is in the best interest of our shareholders and will help position RTON to attract fundamental institutional investors as we continue on our growth trajectory," CEO Jerry Grisaffi said.
- The company said no fractional shares will be issued in connection with the reverse stock split, and any fractional share will be rounded up to the nearest whole ordinary share.
- Source: Press Release
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Right on Brands to effect 1-for-250 reverse stock split