Business
Creative Realities Announces 1-for-3 Reverse Stock Split Effective March 27, 2023
LOUISVILLE, Ky., March 24, 2023 (GLOBE NEWSWIRE) -- Creative Realities, Inc. (“Creative Realities,” “CRI,” or the “company”) (NASDAQ: CREX, CREXW), a leading
About this update from Creative Realities, Inc.
[{"type":"text","content":"LOUISVILLE, Ky., March 24, 2023 (GLOBE NEWSWIRE) -- Creative Realities, Inc. (“Creative Realities,” “CRI,” or the “company”) (NASDAQ: CREX, CREXW), a leading provider of digital signage solutions, announced today that effective at 12:01 am on Monday, March 27, 2023, the Company will effect a one-for-three reverse stock split of its outstanding common stock. The Company’s common stock will continue to trade under the symbol “CREX” and is expected to open for trading on the Nasdaq Capital Market on Monday, March 27, 2023 on a post-split basis. The reverse stock split is primarily intended to bring the Company into compliance with the minimum bid price requirement to maintain the listing of the Company’s common stock on the Nasdaq Capital Market. Upon the effectiveness of the reverse stock split, every three shares of issued and outstanding common stock at the close of business on Friday, March 24, 2023 automatically will be combined into one issued and outstanding share of common stock, with no change in par value per share. In connection with the reverse stock split, the total number of shares of common stock authorized for issuance will be reduced from 200,000,000 shares to 66,666,666 in proportion to the reverse stock split. No fractional shares will be issued as a result of the reverse stock split. Any fractional share of a shareholder resulting from the reverse stock split will be rounded up to the nearest whole number of shares. The reverse stock split will affect all issued and outstanding shares of the Company’s common stock, as well as the number of shares of common stock available for issuance under the Company’s equity compensation programs and all outstanding equity-based awards. The reverse stock split will reduce the number of shares of common stock issuable upon the exercise or vesting of equity-based awards and correspondingly increase any applicable exercise prices. The reverse stock split will affect all shareholders uniformly and will not alter any shareholder’s percentage interest in the Company’s equity, except to the extent that the reverse stock split results in some shareholders experiencing an adjustment of a fractional share as described above. Shareholders holding share certificates will receive information from Computershare, the Company’s transfer agent, regarding the process for exchanging their share...