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Bitech Technologies, now rebranded as Bimergen Energy [OTCQB: BTTCD], has announced a 1-for-140 reverse stock split effective February 3, 2025. The company's common stock will trade under BTTCD for 20 days, with plans to change to BESS thereafter. The split will reduce outstanding shares from approximately 714,411,833 to 5,104,000.
The reverse split and name change are part of the company's strategy to uplist to a national stock exchange. The company has filed an S-1 registration statement with the SEC for a proposed offering of common stock and pre-funded warrants. Shareholders holding shares in street name require no action, while those with certificates can choose to surrender them for new shares at their own expense. Fractional shares will be rounded up to the nearest whole share.
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