Core Viewpoint - Urgently Inc. will implement a reverse stock split at a ratio of 1-for-12 to comply with Nasdaq's minimum bid price requirement of $1.00 per share, effective March 17, 2025 [1] Group 1: Reverse Stock Split Details - The reverse stock split will combine every 12 shares of common stock into one share, reducing the total number of authorized shares from 1 billion to 500 million [3] - The CUSIP number for Urgently's common stock will change to 916931207 following the reverse stock split [2] - Fractional shares resulting from the reverse stock split will be paid out in cash based on the closing trading price prior to the effective time [3] Group 2: Adjustments and Impact - Proportional adjustments will be made to the number of shares issuable upon the exercise of outstanding warrants, stock options, and restricted stock units, along with adjustments to exercise prices and stock price targets [4] - The reverse stock split was approved by stockholders at a Special Meeting held on March 12, 2025, granting the board authority to determine the final ratio [1][5] Group 3: Company Overview - Urgently is a provider of digital roadside and mobility assistance technology, focusing on enhancing driver safety and experience through innovative technology [7] - The company utilizes a digitally native software platform that integrates location-based services, real-time data, and AI to deliver roadside assistance solutions [7]
Urgent.ly Inc. Announces Reverse Stock Split to Regain Nasdaq Compliance