Blue Star Foods Announces 1-for-50 Reverse Stock Split

Company Overview - Blue Star Foods Corp. is an integrated Environmental, Social, and Governance (ESG) sustainable seafood company focused on Recirculatory Aquaculture Systems (RAS) [4] - The company processes, packages, and sells high-value seafood products and operates the oldest continuously operating RAS full grow-out salmon farm in North America [4] Reverse Stock Split Announcement - Blue Star Foods Corp. will implement a 1-for-50 reverse stock split of its Class A common stock, effective at 12:01 am, Eastern Time, on May 20, 2024 [1][3] - Each 50 shares of issued and outstanding common stock will be reclassified into one new share, with no fractional shares issued; all fractional shares will be rounded up [1][3] - The total number of authorized shares will remain at 100,000,000 [1] Compliance with Nasdaq Requirements - The reverse stock split aims to bring the company into compliance with the $1.00 minimum bid price requirement for maintaining its Nasdaq listing [3] - The board of directors approved the reverse stock split on May 7, 2024, and shareholders approved it on April 30, 2024 [3] Trading Information - Post-split, Blue Star's common stock will continue to trade on The Nasdaq Capital Market under the existing symbol "BSFC" and will begin trading on a split-adjusted basis on May 20, 2024 [2]