NuZee Adopts 1-For-35 Reverse Stock Split - Nuzee (NASDAQ:NUZE)

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.