FuelCell Energy Announces 1-For-30 Reverse Stock Split

Core Viewpoint - FuelCell Energy, Inc. is implementing a 1-for-30 reverse stock split to increase its stock price and regain compliance with Nasdaq's minimum bid price requirement of $1.00 per share [3][4]. Group 1: Reverse Stock Split Details - The reverse stock split will take effect at 5:00 p.m. Eastern time on November 8, 2024, with trading on a post-split basis starting on November 11, 2024 [1][2]. - Every 30 shares of common stock will be combined into 1 share, affecting all holders uniformly, with no fractional shares issued [4][6]. - Stockholders entitled to fractional shares will receive a cash payment based on the closing price on November 8, 2024 [4]. Group 2: Compliance and Investor Appeal - The primary goal of the reverse stock split is to increase the bid price of the common stock to meet Nasdaq's listing requirements and attract a broader range of investors [3][4]. - The company has filed a Certificate of Amendment with the Secretary of State of Delaware to effectuate the reverse stock split [2]. Group 3: Company Overview - FuelCell Energy, Inc. is a leader in sustainable energy technologies, holding 531 fuel cell technology patents globally [8]. - The company provides sustainable products and solutions to various customers, including businesses, utilities, and governments [8].