CompuMed Announces Approval of Reverse Stock Split
CompuMed, Inc. (OTC PINK:CMPD) has implemented a 1-for-25 reverse stock split effective May 23, 2022, as approved by shareholders on March 15, 2022. This action consolidates 42,291,070 shares down to 1,691,643 shares, ensuring no change in par value. A temporary 'D' will be added to the ticker symbol, changing back to CMPD after 20 business days. Fractional shares will be settled in cash. The company will maintain share records through Computershare Trust Company in a book-entry format. Shareholders can request physical stock certificates if desired.
- Successful implementation of the 1-for-25 reverse stock split to potentially stabilize stock price.
- Reduction of outstanding shares may increase share value and appeal to investors.
- None.
LOS ANGELES, CA / ACCESSWIRE / May 23, 2022 / CompuMed, Inc. (OTC PINK:CMPD), a leader in providing diagnostic telemedicine, announced today that the 1-for-25 reverse stock split previously approved by the Company's stockholders at the annual meeting of stockholders held on March 15, 2022, has gone effective.
As a result of the reverse stock split, effective as of May 23, 2022, every twenty-five shares of issued and outstanding Company common stock will be automatically combined into one issued and outstanding share of common stock, with no change in par value per share.
The reverse stock split reduces the number of shares of the Company's outstanding common stock from 42,291,070 to 1,691,643. No fractional shares will be issued as a result of the reverse stock split. Any fractional shares that would have resulted from the reverse stock split will be settled in cash. The reverse stock split will affect all common shareholders uniformly and will not alter any shareholder's percentage interest in the Company's common stock, except to the extent that the reverse stock split results in some shareholders experiencing an adjustment of a fractional share as described above.
As a result of the reverse stock split, a "D" will be placed on the Company's ticker symbol for 20 business days (CMPDD). After 20 business days, the symbol will then change back to CMPD. The new CUSIP for the common stock is 204914501.
The Company has retained Computershare Trust Company, N.A. ("Computershare") to manage the exchange of pre-split shares for new, post-split shares. The Company will issue the post-split shares in "book-entry" form, meaning stockholders will not receive physical stock certificates. Instead, the new shares will be registered in the name of the stockholder on the books of the Company maintained by its transfer agent, Computershare. Stockholders may request a stock certificate, if they would prefer to hold an actual certificate.
For any questions, please contact Computershare 1-800-546-5141 .
Inquiries regarding this can be sent to investorrelations@compumedinc.com
About CompuMed, Inc.
CompuMed, Inc. (OTC PINK:CMPD) Diagnostic Telemedicine services provide patients with the highest level of clinical care at reduced costs. Its telecardiology and teleradiology offerings provide real-time access to U.S. Board-Certified specialists through cloud-based technology and integrated medical devices to medical facilities anywhere in the world. The company has been in business over 26 years and services over 1,000 clinical settings. CompuMed is headquartered in Los Angeles, CA. Visit CompuMed at www.compumedinc.com.
Forward-Looking Statements
Certain statements in this press release are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include all passages containing words such as "will," "aims," "anticipates," "becoming," "believes," "continue," "estimates," "expects," "future," "intends," "plans," "predicts," "projects," "targets," or "upcoming." Forward-looking statements also include any other passages that are primarily relevant to expected future events or that can only be evaluated by events that will occur in the future. Forward-looking statements are based on the opinions and estimates of management at the time the statements are made and are subject to certain risks and uncertainties that could cause actual results to differ materially from those anticipated or implied in the forward-looking statements. Factors that could cause actual results to vary from current expectations and forward-looking statements contained in this press release include, but are not limited to: the timing and volume of business activity from our clients and our ability to continue to provide products and services to such clients; the loss of, or reduction of business from, material clients; our liquidity and cash position; changes in technology; our ability to protect the Company's net operating losses and tax benefits; volatility and changes in our stock price, corporate or other market conditions; changes in government regulations or economic conditions; the impact of increased competition and pricing; capacity and supply chain constraints or difficulties; and other factors contained in the Company's filings posted on the OTC Markets website. All such forward-looking statements are expressly qualified by these cautionary statements. The Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect events, conditions or circumstances on which any such statement is based after the date hereof, except as required by law.
SOURCE: CompuMed, Inc.
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FAQ
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Will shareholders receive physical stock certificates for CompuMed after the stock split?
