Fluent Announces Reverse Stock Split

Shares Will Begin Trading on a Split-Adjusted Basis on April 12, 2024

NEW YORK, April 10, 2024 (GLOBE NEWSWIRE) -- Fluent, Inc. (NASDAQ: FLNT), a leading data-driven performance marketing company, today announced that it will effect a 1-for-6 reverse split of the issued shares of its common stock, effective at 6:00 p.m. Eastern Time on April 11, 2024. The Company's common stock will begin trading on a reverse stock split-adjusted basis at the opening of the market on Friday, April 12, 2024. Following the reverse stock split, the Company’s common stock will continue to trade on The Nasdaq Capital Market under the symbol “FLNT” with the new CUSIP number 34380C 201.

Fluent is implementing the reverse stock split with the objective of regaining compliance with the $1.00 minimum bid price requirement for continued listing on The Nasdaq Capital Market. The Company has until April 29, 2024 to demonstrate compliance with this requirement. To demonstrate compliance, the closing bid price of Fluent’s common stock must be at least $1.00 per share for a minimum of ten consecutive business days. The Company intends to file a Certificate of Amendment to its Certificate of Incorporation, as amended, with the Secretary of State of the State of Delaware to effect the reverse stock split.

As a result of the reverse stock split, every six (6) shares of the Company’s common stock issued and outstanding or held by the Company in treasury stock will automatically be combined and reclassified into one share of common stock. No fractional shares will be issued as a result of the reverse stock split. Stockholders who would otherwise be entitled to receive a fractional share will receive an additional fraction of a share of common stock to round up to the next whole share. The reverse stock split will affect all stockholders uniformly and will not alter any stockholder’s percentage ownership interest or any stockholder’s proportionate voting power, except for immaterial adjustments that may result from the treatment of fractional shares. There will be no change in the number of authorized shares of common stock or the par value per share of the common stock.