Business
Jerrick Media Holdings, Inc. Announces 1-for-20 Reverse Stock Split
Jerrick Media Holdings, Inc. Announces 1-for-20 Reverse Stock Split.
About this update from Creatd Inc.
[{"type":"text","content":"\n\n\n\nJerrick Media Holdings, Inc. Announces 1-for-20 Reverse Stock Split\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nJerrick Media Holdings, Inc. Announces 1-for-20 Reverse Stock Split\nPR Newswire\nFORT LEE, N.J., July 30, 2019\n\n\n\nFORT LEE, N.J., July 30, 2019 /PRNewswire/ -- Jerrick Media Holdings, Inc., (OTCQB: JMDA) (the \"Company\" or \"Jerrick\") a technology company and the creator of Vocal, today announced that it has effected a 1-for-20 reverse stock split of the Company's issued and outstanding shares of common stock, together with a proportionate reduction in the number of authorized shares of the Company's common stock (the \"Reverse Split\"). The Reverse Split became effective at market open today, July 30, 2019. The Company's common stock will trade on a split-adjusted basis under the temporary OTC ticker \"JMDAD\" for 20 trading days. After that period, the ticker symbol will revert to \"JMDA.\"\n\n \n \n\n \nThe intent of the Reverse Split is to improve the Company's equity structure in advance of its intended pursuit of an uplist to The NASDAQ Capital Market.\nJerrick CEO Jeremy Frommer commented, \"With the continued support of shareholders, advisors and, most importantly, the half-million registered Vocal creators, we continue to stay similarly focused on revenue and developing the Vocal platform. Creating opportunity from the underlying technology translates to a win-win strategy for shareholders, with Jerrick delivering on both growth and value.\"\nWith the approval of the majority of Jerrick's stockholders and the Board of Directors, Jerrick effected the Reverse Split by filing an amendment to its certificate of incorporation reflecting the approved split ratio.  \nThe Reverse Split will affect all holders of common stock uniformly and will not alter any stockholder's percentage ownership interest in Jerrick, except to the extent that the split would result in a stockholder owning a fractional share.  All fractional shares will be rounded up to the next whole share, and no fractional shares of common stock will be enti...