Reverse/Forward Stock Split

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Parks! America, Inc. Announces Reverse/Forward Stock Split
Globenewswireยท 2025-04-30 21:00
Core Viewpoint - Parks! America, Inc. announced a 1-for-500 reverse stock split followed by a 5-for-1 forward stock split, effective April 30, 2025, aimed at reducing administrative costs associated with a large number of stockholders holding few shares [1][5]. Group 1: Stock Split Details - The reverse stock split will reduce the number of issued and outstanding shares from 75,726,851 to approximately 754,045 shares [2]. - The common stock will trade under the symbol "PRKAD" for 20 trading days post-split before reverting to "PRKA" [2]. - No fractional shares will be issued; instead, stockholders entitled to fractional shares will receive cash payments [3][8]. Group 2: Background and Approval - The reverse/forward stock split was approved by stockholders on March 7, 2025, and subsequently by the Board of Directors on April 1, 2025 [4]. - The Certificates of Amendment for the stock split were filed with the Secretary of State of Nevada on April 10, 2025 [4]. Group 3: Financial Implications for Stockholders - Stockholders with fewer than 500 shares will receive cash equal to their shares multiplied by the average closing sales price over the five trading days preceding the effective date [8]. - Remaining stockholders entitled to fractions will also receive cash payments based on the adjusted average closing sales prices [8]. Group 4: Company Overview - Parks! America, Inc. operates three regional safari parks and focuses on acquiring and developing entertainment assets in the United States [6].