EzFill Holdings, Inc. Announces Reverse Stock Split
EzFill Holdings, Inc. (NASDAQ: EZFL), a leader in the mobile fuel industry, has announced a 1 for 2.5 reverse stock split effective July 25, 2024. This strategic move aims to regain compliance with Nasdaq's continued listing requirement of maintaining at least $2,500,000 in stockholders' equity. The split will reduce outstanding common stock from approximately 4.97 million to 1.99 million shares, with fractional shares rounded up.
Interim CEO Yehuda Levy emphasized the importance of maintaining Nasdaq listing for enhancing shareholder value, citing the visibility and credibility it provides. This reverse split is a important step in EzFill's efforts to strengthen its market position and financial standing.
EzFill Holdings, Inc. (NASDAQ: EZFL), un leader nel settore dei combustibili mobili, ha annunciato un conguaglio azionario inverso di 1 per 2,5 che entrerà in vigore il 25 luglio 2024. Questa mossa strategica mira a ripristinare la conformità con il requisito di mantenimento della quotazione Nasdaq di avere almeno 2.500.000 $ in patrimonio netto degli azionisti. Il conguaglio ridurrà le azioni ordinarie in circolazione da circa 4,97 milioni a 1,99 milioni di azioni, con le frazioni di azione arrotondate.
Il CEO ad interim Yehuda Levy ha sottolineato l'importanza di mantenere la quotazione Nasdaq per aumentare il valore per gli azionisti, citando la visibilità e la credibilità che essa fornisce. Questo conguaglio inverso è un passo importante negli sforzi di EzFill per rafforzare la propria posizione di mercato e la propria solidità finanziaria.
EzFill Holdings, Inc. (NASDAQ: EZFL), un líder en la industria de combustible móvil, ha anunciado un desdoblamiento inverso de acciones de 1 por 2.5 que entrará en vigor el 25 de julio de 2024. Este movimiento estratégico tiene como objetivo recuperar el cumplimiento del requisito de cotización continua de Nasdaq de mantener al menos 2,500,000 $ en patrimonio de los accionistas. El desdoblamiento reducirá las acciones ordinarias en circulación de aproximadamente 4.97 millones a 1.99 millones de acciones, con acciones fraccionarias redondeadas hacia arriba.
Yehuda Levy, CEO interino, enfatizó la importancia de mantener la cotización en Nasdaq para aumentar el valor para los accionistas, citando la visibilidad y la credibilidad que proporciona. Este desdoblamiento inverso es un paso importante en los esfuerzos de EzFill para fortalecer su posición en el mercado y su situación financiera.
EzFill Holdings, Inc. (NASDAQ: EZFL), 모바일 연료 산업의 선두주자는 2.5대 1 역분할을 2024년 7월 25일 발효한다고 발표했습니다. 이 전략적 조치는 나스닥의 지속적 상장 요건인 주주 자본금 2,500,000달러 유지 준수를 회복하는 것을 목표로 합니다. 이 분할로 인해 발행된 보통주가 약 497만 주에서 199만 주로 줄어들며, 분수 주식은 올림 처리됩니다.
임시 CEO 예후다 레비는 주주 가치를 높이기 위해 나스닥 상장을 유지하는 것의 중요성을 강조하며, 그것이 제공하는 가시성과 신뢰성을 언급했습니다. 이 역분할은 EzFill이 시장 위치와 재무 안정성을 강화하려는 노력에서 중요한 단계입니다.
EzFill Holdings, Inc. (NASDAQ: EZFL), un leader dans l'industrie des carburants mobiles, a annoncé un rachat de titres inversé de 1 pour 2,5 prenant effet le 25 juillet 2024. Ce mouvement stratégique vise à retrouver la conformité avec l'exigence de cotation continue de Nasdaq qui impose de maintenir au moins 2 500 000 $ en capitaux propres des actionnaires. Le rachat réduira le nombre d'actions ordinaires en circulation d'environ 4,97 millions à 1,99 million d'actions, les actions fractionnées étant arrondies à l'unité supérieure.
Yehuda Levy, CEO par intérim, a souligné l'importance de maintenir la cotation sur Nasdaq pour valoriser les actionnaires, en citant la visibilité et la crédibilité qu'elle apporte. Ce rachat inversé est une étape significative dans les efforts d'EzFill pour renforcer sa position sur le marché et sa solidité financière.
EzFill Holdings, Inc. (NASDAQ: EZFL), ein führendes Unternehmen in der mobilen Brennstoffindustrie, hat einen 1 zu 2,5 Rückwärtssplitt angekündigt, der am 25. Juli 2024 in Kraft tritt. Dieser strategische Schritt zielt darauf ab, die Einhaltung der fortlaufenden Listungsanforderungen von Nasdaq zu gewährleisten, die einen Mindestwert von 2.500.000 $ an Aktionärskapital vorschreibt. Der Split wird die ausstehenden Stammaktien von etwa 4,97 Millionen auf 1,99 Millionen Aktien reduzieren, wobei Bruchstücke nach oben gerundet werden.
Interim-CEO Yehuda Levy hob die Bedeutung der Beibehaltung der Nasdaq-Notierung zur Steigerung des Aktionärswerts hervor und nannte die Sichtbarkeit und Glaubwürdigkeit, die dies bietet. Dieser Rückwärtssplit ist ein wichtiger Schritt in EzFills Bemühungen, seine Marktposition und finanzielle Lage zu stärken.
- Potential to regain compliance with Nasdaq listing requirements
- Reduction in outstanding shares may lead to increased stock price
- Reverse stock split may be perceived as a sign of financial distress
- No change in company's market capitalization or underlying value
EzFill Holdings, Inc.'s announcement of a 1-for-2.5 reverse stock split is a notable move to comply with Nasdaq's listing requirements. This action will significantly reduce the number of shares outstanding, from approximately 4.97 million to 1.99 million, effectively increasing the stock price to help meet the $2,500,000 stockholders' equity requirement.
Reverse stock splits are typically implemented by companies to avoid delisting and can often be perceived as a sign of financial trouble, as they artificially inflate the stock price without changing the company’s market capitalization. However, it can also be seen positively by investors as it demonstrates the company’s commitment to maintaining its Nasdaq listing, which is important for liquidity and investor confidence.
Investors should understand the implications: while the number of shares they hold will decrease, their overall value remains the same. The key impact will be on the stock price per share, which should theoretically rise proportionately. Investors should also watch for any changes in trading volume and market perception post-split.
This reverse stock split by EzFill can have varied market reactions. Historically, such moves are mixed bags in terms of market sentiment. On the one hand, maintaining Nasdaq listing keeps the stock accessible to institutional investors and funds, which can be a positive sign. On the other, reverse splits sometimes signal underlying financial challenges.
In the short term, the market may react with volatility as investors reassess the company’s viability and prospects. In the long term, the split will only be beneficial if the company can leverage its Nasdaq listing to achieve stronger business performance and financial stability.
For retail investors, it's essential to keep an eye on how the market digests this change over the next few trading sessions and be wary of any abrupt price movements. Additionally, understanding how EzFill plans to improve its financial health post-split will be critical in assessing the viability of holding or acquiring the stock.
MIAMI, FL, July 23, 2024 (GLOBE NEWSWIRE) -- EzFill Holdings, Inc. (“EzFill” or the “Company”) (NASDAQ: EZFL), a pioneer and emerging leader in the mobile fuel industry, announced that, it will effect a 1 for 2.5 reverse stock split of its common stock. EzFill expects its common stock to begin trading on a split-adjusted basis on the Nasdaq Capital Market as of the commencement of trading on July 25, 2024.
The reverse stock split was approved by the Board of Directors and shareholders of the Company and is being implemented as part of a plan by the Company to regain compliance with the continued listing requirement under Nasdaq Listing Rule 5550(b)(1), which requires that a listed company’s stockholders’ equity be at least
At the effective time of the reverse stock split, every 2.5 shares of EzFill common stock issued and outstanding will be combined into one share of common stock issued and outstanding. This will reduce the Company’s outstanding common stock from approximately 4.97 million shares to approximately 1.99 million shares. No fractional shares of common stock will be issued as a result of the reverse stock split and instead fractional shares will be rounded up.
Yehuda Levy, EzFill’s Interim Chief Executive Officer, commented, “The reverse split is a necessary step in our efforts to maintain our listing on the Nasdaq market. The visibility and credibility that comes with a Nasdaq listing is an important component in our efforts to enhance shareholder value.”
About EzFill
EzFill is a leader in the fast-growing mobile fuel industry, with the largest market share in its home state of Florida. Its mission is to disrupt the gas station fueling model by providing consumers and businesses with the convenience, safety, and touch-free benefits of on-demand fueling services brought directly to their locations. For commercial and specialty customers, at-site delivery during downtimes enables operators to begin their daily operations with fully fueled vehicles. For more information, visit www.ezfl.com.
With the number of gas stations in the U.S. continuing to decline, corporate giants such as Shell, Exxon, GM, Bridgestone, Enterprise, and Mitsubishi have recognized the increasing shift in consumer behavior and are investing in the fast growing on-demand mobile fueling industry, in companies such as Booster and Yoshi. As the only company to provide fuel delivery in three verticals – consumer, commercial, and specialty including marine and construction equipment, we believe EzFill is well positioned to capitalize on the growing demand for convenient and cost-efficient mobile fueling options.
Forward Looking Statements
This press release contains “forward-looking statements” Forward-looking statements reflect our current view about future events. When used in this press release, the words “anticipate,” “believe,” “estimate,” “expect,” “future,” “intend,” “plan,” or the negative of these terms and similar expressions, as they relate to us or our management, identify forward-looking statements. Such statements, include, but are not limited to, statements contained in this press release relating to our business strategy, our future operating results and liquidity and capital resources outlook. Forward-looking statements are based on our current expectations and assumptions regarding our business, the economy and other future conditions. Because forward–looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Our actual results may differ materially from those contemplated by the forward-looking statements. They are neither statements of historical fact nor guarantees of assurance of future performance. We caution you therefore against relying on any of these forward-looking statements. Important factors that could cause actual results to differ materially from those in the forward-looking statements include, without limitation, our ability to raise capital to fund continuing operations; our ability to protect our intellectual property rights; the impact of any infringement actions or other litigation brought against us; competition from other providers and products; our ability to develop and commercialize products and services; changes in government regulation; our ability to complete capital raising transactions; and other factors relating to our industry, our operations and results of operations. Actual results may differ significantly from those anticipated, believed, estimated, expected, intended or planned. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We cannot guarantee future results, levels of activity, performance or achievements. The Company assumes no obligation to update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this release except as may be required under applicable securities law.
For further information, please contact:
Investor and Media Contact
Tradigital Investor Relations
John McNamara
john@tradigitalir.com
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FAQ
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