Core Viewpoint - CEA Industries Inc. has announced a 1-for-12 reverse stock split to maintain its listing on the Nasdaq Capital Market [1][4]. Group 1: Reverse Stock Split Details - Each twelve shares of the Company's outstanding common stock will be combined into one share, with a par value of $0.00001 per share [2]. - The publicly traded common stock purchase warrants will be adjusted so that each 12 warrants will allow the purchase of one share at a revised price of $60.00 [2]. - The common stock is expected to begin trading on a split-adjusted basis on June 7, 2024 [5]. Group 2: Company Compliance and Reporting - The Company will continue to comply with periodic reporting and other requirements under the Securities and Exchange Act [3]. - The common stock and common stock purchase warrants will remain listed on the Nasdaq Capital Market under the symbols "CEAD" and "CEADW," respectively [3]. Group 3: Purpose and Implications of the Split - The reverse stock split aims to maintain the Company's Nasdaq listing, although the Company cannot guarantee that the post-split stock price will reflect the split ratio or remain above pre-split levels [4]. - A new CUSIP number has been assigned to the common stock, while the warrants will retain their current CUSIP number [5]. Group 4: Shareholder Information - No fractional shares will be issued; any resulting fractional shares will be rounded up to the next whole share [6]. - Stockholders are advised to consult with their brokers for further information regarding their accounts [6]. Group 5: Company Overview - CEA Industries Inc. provides a suite of offerings to the controlled environment agriculture industry, supporting the development of the global ecosystem for indoor cultivation [7].
CEA Industries Inc. Announces Reverse Stock Split to be Effective June 7, 2024; Publicly Traded Warrant Adjustment