Business
Moolec Science Announces Effectiveness of Reverse Stock Split
LUXEMBOURG, LU / ACCESS Newswire / May 12, 2025 / Moolec Science SA (NASDAQ:MLEC; the "Company" or "Moolec"), a science-based food ingredient company focused
About this update from Moolec Science Sa
[{"type":"text","content":"LUXEMBOURG, LU / ACCESS Newswire / May 12, 2025 / Moolec Science SA (NASDAQ:MLEC; the \"Company\" or \"Moolec\"), a science-based food ingredient company focused on producing animal proteins and nutritional oils in plants, today announced that, in accordance with the resolutions passed at the extraordinary general meeting of shareholders held on April 22, 2025, and the resolutions adopted by the Company's board of directors on the same date, the Company has approved a reverse stock split at a consolidation ratio of one-for-ten (1-for-10). As a result, every ten ordinary shares of the Company, with a par value of US$0.01 per share (the \"Shares\"), issued and outstanding will automatically, and without any action required on the part of the holders, be consolidated into one validly issued, fully paid, and non-assessable Share, with no change to the par value per share (the \"Reverse Stock Split\").Moolec Science LogoThe Company anticipates that the Reverse Stock Split will take effect May 14, 2025, 8:30 AM Eastern Time (the \"Effective Time\") and will be reflected in the market at the start of trading, on a split-adjusted basis.The Shares will continue to trade on the NASDAQ under the symbol \"MLEC\" under a new CUSIP code, which is L64875 120. The Company's publicly traded warrants will continue to be traded under the symbol \"MLECW\" under the same CUSIP code, which is L64875 112. As a result of the Reverse Stock Split the number of issued and outstanding Shares will be reduced from approximately 40 million Shares to approximately 4 million Shares. The Reverse Stock Split does not otherwise affect the Company's business or operations.Registered shareholders are not required to take any action to receive Shares in connection with the Reverse Stock Split. Shareholders owning shares through an account at a brokerage firm, bank, dealer, custodian or other similar organization acting as nominee will have their positions automatically adjusted to reflect the Reverse Stock Split, subject to such broker's particular processes, and likewise will not be required to take any action in connection with the Reverse Stock Split.Forward Looking StatementsThis press release contains \"forward-looking statements.\" Forward-looking statements may be identified by the use of words such as \"forecast,\" \"intend,\" \"seek,\" \"target,\" \"anticipa...