PEDEVCO Announces 1-For-20 Reverse Stock Split

Core Viewpoint - PEDEVCO Corp. will conduct a reverse stock split at a ratio of 1-for-20, effective March 13, 2026, to streamline its capital structure and enhance its market profile following a recent merger [1][2]. Group 1: Reverse Stock Split Details - The reverse stock split will convert every 20 shares of common stock into one share, reducing the outstanding shares from approximately 266.0 million to about 13.3 million [3][5]. - The trading symbol "PED" will remain unchanged, but the CUSIP number will change to 70532Y402 [3]. - The reverse stock split will not affect the authorized number of shares or the par value, which will remain at $0.001 per share [6]. Group 2: Purpose and Approval - The primary goal of the reverse stock split is to reduce the number of outstanding shares and increase the per-share trading price, thereby improving the company's capital markets profile and attracting institutional investors [2][4]. - The reverse stock split was approved by the majority stockholders on October 31, 2025, and the final ratio was confirmed by the Board after the effectiveness of the written consent on February 27, 2026 [4]. Group 3: Impact on Securities - All outstanding options and other securities will be adjusted accordingly due to the reverse stock split, and no fractional shares will be issued; instead, cash will be provided for any fractional shares [6]. - The company plans to file a Current Report on Form 8-K with the SEC on the effective date of the reverse stock split for additional information [7]. Group 4: Company Overview - PEDEVCO Corp. is a publicly traded energy company focused on acquiring and developing high-growth energy projects in the United States, with principal assets in the Rockies and the Permian Basin [8].