urban-gro, Inc. Announces Reverse Stock Split
LAFAYETTE, Colo., Jan. 05, 2021 (GLOBE NEWSWIRE) -- urban-gro,
Inc. (OTCQX: UGRO) (“urban-gro” or the “Company”), a leading global horticulture company that engineers and designs commercial Controlled Environment Agriculture (“CEA”) facilities and
integrates complex environmental equipment systems into these high-performance facilities, announced today that the Company has effected a 1-for-6 reverse split of its issued and outstanding shares
of common stock. Shares of urban-gro’s common stock will begin trading on a split-adjusted basis under the ticker symbol “UGROD” on the OTCQX on January 6, 2021 for a period of 20 trading days,
after which the ticker symbol will revert to “UGRO”. The new CUSIP number for urban-gro’s common stock following the reverse split is 91704K202.
In connection with the reverse split, every 6 shares of issued and outstanding common stock will be converted into 1 share of issued and outstanding common stock, and the outstanding shares of common stock will be reduced from approximately 28.3 million shares to approximately 4.7 million shares. All of urban-gro’s options, warrants, and other convertible securities that were outstanding immediately before the effectiveness of the reverse split also were adjusted by dividing the number of shares of common stock into which the options, warrants, and other convertible securities were exercisable or convertible by six and multiplying the exercise or conversion price thereof by six, all in accordance with the terms of the plans, agreements, or arrangements governing such options, warrants, and other convertible securities.
No fractional shares will be issued. Instead, in lieu of any fractional shares to which a stockholder of record would otherwise be entitled as a result of the reverse split, the Company will pay cash (without interest) equal to such fraction multiplied by the average of the closing prices of a share of the Company’s common stock (as adjusted to give effect to the reverse split) on the OTC Market, Inc.’s OTCQX marketplace for the five (5) consecutive trading days immediately preceding the effective date of the reverse split. After the reverse split, a stockholder otherwise entitled to a fractional interest will not have any voting, dividend or other rights with respect to such fractional interest except to receive payment as described above.
urban-gro Registered (Old) Aktie jetzt über den Testsieger (Finanztest 11/2020) handeln, ab 0 € auf Smartbroker.de