- Single serve coffee formats producer NuZee Inc NUZE said it intends to effect a 1-for-35 reverse stock split of its issued and outstanding shares of common stock.
- As previously disclosed, the stockholders approved a reverse stock split at the company's Special Meeting of Stockholders held on December 9, 2022.
- The shareholders also authorized the Board of Directors to select the reverse stock split ratio within a range from 1-for-10 to 1-for-50.
- The Board has since exercised such discretion to effect a 1-for-35 reverse stock split. The reverse stock split will automatically convert 35 current shares of the company's common stock into one share of common stock.
- The reverse stock split will become effective on Wednesday, December 28, 2022.
- Price Action: NUZE shares are trading lower by 0.95% at $0.2823 in premarket on the last check Wednesday.
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