SplitApr 30, 2026, 08:23 AM
VEEE Announces 1-for-37 Reverse Stock Split Effective May 4
AI Summary
Twin Vee PowerCats Co. announced a 1-for-37 reverse stock split of its common stock, effective May 4, 2026. The split aims to regain compliance with Nasdaq's minimum bid price requirement and broaden potential investor interest. This action will reduce the number of outstanding common shares from approximately 19.6 million to 0.5 million and authorized shares from 500 million to 13.5 million, with fractional shares being rounded up.
Key Highlights
- Twin Vee PowerCats Co. announced a 1-for-37 reverse stock split.
- The reverse stock split is effective May 4, 2026, 12:01 a.m. ET.
- Purpose is to regain compliance with Nasdaq's minimum bid price requirement.
- Outstanding common shares will decrease from ~19.6M to ~0.5M.
- Authorized common shares will decrease from 500M to ~13.5M.
- Fractional shares will be rounded up to the nearest whole share.
- No stockholder approval was required for the reverse split.