Liquid Media Group, a NASDAQ-listed entertainment company (Nasdaq: YVR), has announced its plans to implement a reverse stock split of its common shares. The reverse stock split will take place at a ratio of 1 post-split share for every 4 pre-split shares, with the aim of increasing the per share trading price. The company’s common shares will continue to be traded on the Nasdaq Capital Market under the symbol YVR and will begin trading on a post-split adjusted basis.
The reverse stock split comes after approval from the company’s shareholders at the Annual General and Special Meeting of Shareholders. The consolidation of all issued and outstanding common shares will result in one post-consolidation common share for up to four pre-consolidation common shares. The Board of Directors of Liquid Media Group has determined a ratio of 1-for-4 for the reverse stock split.
The primary objective of the reverse stock split is to boost the company’s per share trading price, without altering shareholders’ percentage interests in the company’s equity. Upon the effective time of the reverse stock split, every 4 shares of the company’s common shares will be automatically converted into one share of common stock. Shareholders holding shares through a brokerage account will have their shares adjusted accordingly.
The reverse stock split will affect all shareholders equally, although any resulting fractional shares will be rounded down to the nearest whole number of shares. As a result of the consolidation, the total number of outstanding common shares will be reduced from approximately 19,313,340 shares to around 4,828,208 shares. Proportional adjustments will be made to the number of shares of common stock issuable upon exercise or conversion of the company’s equity awards and warrants, as well as the applicable exercise price.
Shareholders with shares held in brokerage accounts are advised to direct any questions regarding the reverse stock split to their respective brokers. For any other questions, shareholders of record can reach out to the company’s transfer agent.
Liquid Media Group is an entertainment company that enables independent IP creators through its end-to-end solution, covering video creation, packaging, financing, delivery, and monetization. By providing a comprehensive platform, the company aims to support IP creators from the initial stages all the way through to the monetization of their content.
Disclaimer: This is not financial advice. Investors are advised to conduct their own research and consult with professionals before making investment decisions.
