Business
IZEA to Effect a 1-for-4 Reverse Stock Split on June 16, 2023
Orlando, Florida, June 15, 2023 (GLOBE NEWSWIRE) -- IZEA Worldwide, Inc. (the “Company”) (Nasdaq: IZEA), operator of the premier online marketplace that
About this update from Izea Worldwide, Inc.
[{"type":"text","content":"Orlando, Florida, June 15, 2023 (GLOBE NEWSWIRE) -- IZEA Worldwide, Inc. (the “Company”) (Nasdaq: IZEA), operator of the premier online marketplace that connects brands with influential content creators, today announced a 1-for-4 reverse split of its common stock to be effective prior to the market open on June 16, 2023 (the “Reverse Split”). The Reverse Split was approved by the Company's board of directors. The purpose of the Reverse Split is to enable the Company to regain compliance with the Nasdaq Capital Market continued listing guidelines. The Company believes that a greater price per share of common stock could allow a broader range of institutions to invest in the Company, potentially increasing marketability, trading volume and liquidity of the common stock. The Company believes it currently meets all other listing requirements for continued listing on the Nasdaq Capital Market, with the exception of its share price. Following the completion of the Reverse Split, Nasdaq will monitor trading for a minimum of ten (10) trading days to ensure the Company’s common stock maintains key thresholds, including a minimum bid price of $1.00 per share. At the effective time of the Reverse Split, every 4 shares of issued and outstanding Company common stock are to be converted into one share of Company common stock, without any change in the par value of the shares. The Reverse Split does not affect any Company shareholder's ownership percentage of IZEA common stock, except to the limited extent that the Reverse Split results in any shareholder receiving a whole share in respect of any fractional share that would otherwise result from the Reverse Split. The Company's common stock will continue to trade under the ticker symbol \"IZEA.\" About IZEA Worldwide, Inc. IZEA Worldwide, Inc. (“IZEA”), is a marketing technology company providing software and professional services that enable brands to collaborate and transact with the full spectrum of today’s top social influencers and content creators. The company serves as a champion for the growing Creator Economy, enabling individuals to monetize their content, creativity, and influence. IZEA launched the industry’s first-ever influencer marketing platform in 2006 and has since facilitated nearly 4 million transactions between online buyers and sellers. Leading brands and agencies partner...