InCapta, Inc. Announces FINRA Processing of Corporate Actions
InCapta, Inc. (OTC PINK: INCT) has announced significant corporate actions processed by FINRA. The company has changed its name to FrankSpeech Network, Inc. and executed a 1:50,000 reverse stock split of its common stock. These actions were part of a share exchange with FrankSpeech, Inc., which became InCapta's wholly-owned subsidiary. InCapta issued 3,700,000 Series A Preferred Stock in exchange for all outstanding securities of FrankSpeech, Inc.
As a result, the company's stock symbol will temporarily change to 'INCTD' for 20 business days, after which it will become 'FSBN'. Fractional shares from the reverse split will be rounded up to the next whole share. These corporate actions are now reflected on FINRA's daily list.
InCapta, Inc. (OTC PINK: INCT) ha annunciato azioni aziendali significative elaborate da FINRA. L'azienda ha cambiato il suo nome in FrankSpeech Network, Inc. e ha eseguito un consolidamento azionario 1:50.000 delle sue azioni ordinarie. Queste azioni facevano parte di uno scambio azionario con FrankSpeech, Inc., che è diventata una sussidiaria interamente controllata da InCapta. InCapta ha emesso 3.700.000 azioni privilegiate di Serie A in cambio di tutti i titoli in circolazione di FrankSpeech, Inc.
Di conseguenza, il simbolo azionario dell'azienda cambierà temporaneamente in 'INCTD' per 20 giorni lavorativi, dopo di che diventerà 'FSBN'. Le azioni frazionarie derivanti dal consolidamento saranno arrotondate all'azione intera successiva. Queste azioni aziendali sono ora riflesse nella lista giornaliera di FINRA.
InCapta, Inc. (OTC PINK: INCT) ha anunciado acciones corporativas significativas procesadas por FINRA. La empresa ha Cambiado su nombre a FrankSpeech Network, Inc. y ha ejecutado un split inverso de acciones 1:50,000 de sus acciones comunes. Estas acciones formaban parte de un intercambio de acciones con FrankSpeech, Inc., que se convirtió en una subsidiaria de propiedad total de InCapta. InCapta emitió 3,700,000 acciones preferentes de Serie A a cambio de todos los valores en circulación de FrankSpeech, Inc.
Como resultado, el símbolo de las acciones de la compañía cambiará temporalmente a 'INCTD' por 20 días hábiles, después de lo cual se convertirá en 'FSBN'. Las acciones fraccionadas del split inverso se redondearán a la siguiente acción entera. Estas acciones corporativas ya se reflejan en la lista diaria de FINRA.
InCapta, Inc. (OTC PINK: INCT)는 FINRA에서 처리된 중요한 기업 행동을 발표했습니다. 회사는 이름을 FrankSpeech Network, Inc.로 변경했습니다. 그리고 1:50,000 비율의 역주식 분할을 실행했습니다. 이러한 조치는 InCapta의 완전 자회사인 FrankSpeech, Inc.와의 주식 교환의 일환이었습니다. InCapta는 FrankSpeech, Inc.의 모든 유통 증권에 대해 3,700,000 주식의 A 시리즈 우선주를 발행했습니다.
그 결과, 회사의 주식 기호는 'INCTD'로 20영업일 동안 일시적으로 변경된 후 'FSBN'으로 변경됩니다. 역주식 분할에서 나온 분할 주식은 다음 전체 주식으로 반올림됩니다. 이러한 기업 행동은 현재 FINRA의 일일 목록에 반영되어 있습니다.
InCapta, Inc. (OTC PINK: INCT) a annoncé des actions corporatives significatives traitées par FINRA. La société a changé son nom en FrankSpeech Network, Inc. et a réalisé un rachat d'actions de 1:50.000 de ses actions ordinaires. Ces actions faisaient partie d'un échange d'actions avec FrankSpeech, Inc., qui est devenue une filiale entièrement détenue d'InCapta. InCapta a émis 3.700.000 actions privilégiées de série A en échange de tous les titres en circulation de FrankSpeech, Inc.
En conséquence, le symbole boursier de l'entreprise changera temporairement en 'INCTD' pendant 20 jours ouvrés, après quoi il deviendra 'FSBN'. Les actions fractionnaires issues du rachat seront arrondies à l'action entière suivante. Ces actions corporatives sont désormais reflétées dans la liste quotidienne de FINRA.
InCapta, Inc. (OTC PINK: INCT) hat bedeutende Unternehmensmaßnahmen bekannt gegeben, die von FINRA bearbeitet wurden. Das Unternehmen hat seinen Namen in FrankSpeech Network, Inc. geändert und einen 1:50.000 Aktiensplit rückwärts seiner Stammaktien durchgeführt. Diese Maßnahmen waren Teil eines Aktienaustauschs mit FrankSpeech, Inc., das ein hundertprozentiges Tochterunternehmen von InCapta wurde. InCapta gab 3.700.000 Series A Vorzugsaktien im Austausch für alle ausstehenden Wertpapiere von FrankSpeech, Inc. aus.
Infolgedessen wird das Aktienkürzel des Unternehmens vorübergehend auf 'INCTD' für 20 Geschäftstage geändert, nach denen es 'FSBN' wird. Bruchteile von Aktien aus dem rückwärtsgerichteten Split werden auf die nächste volle Aktie aufgerundet. Diese Unternehmensmaßnahmen sind jetzt in FINRAs täglicher Liste vermerkt.
- Completed share exchange with FrankSpeech, Inc., acquiring it as a wholly-owned subsidiary
- Name change to FrankSpeech Network, Inc. may align better with new business focus
- 1:50,000 reverse stock split could potentially increase share price and attract new investors
- Significant dilution for existing shareholders due to 1:50,000 reverse stock split
- Potential loss of investor interest due to drastic reduction in tradable shares
- Temporary stock symbol change may cause confusion among investors
GREENWOOD VILLAGE, Colo., Aug. 28, 2024 (GLOBE NEWSWIRE) -- InCapta, Inc. (the “Company”) (OTC PINK: INCT), announces today that the Financial Industry Regulatory Authority (“FINRA”) has processed the Company’s corporate actions, as requested, and has had its name changed to FrankSpeech Network, Inc.
In addition to the change in the Company’s name, the Company has executed a one-for-fifty thousand (1:50,000) reverse stock split of its common stock. Fractional shares issued in connection with the reverse stock split will be rounded up to the next whole share.
The name change and reverse stock split were done in connection with a share exchange between the Company and FrankSpeech, Inc., a Delaware corporation, in which the Company issued 3,700,000 of its Series A Preferred Stock in exchange for all of the outstanding securities of FrankSpeech, Inc. Following the share exchange, FrankSpeech, Inc. became the Company’s wholly-owned subsidiary.
As a result of the reverse stock split, the Company’s stock symbol will change to “INCTD” for 20 business days. At the conclusion of 20 business days, the ticker symbol will be changed to “FSBN”.
Please see https://otce.finra.org/otce/dailyList, which notes the corporate actions.
About FrankSpeech Network, Inc.
FrankSpeech is a broadcast platform founded by Mike Lindell in April 2021 to provide a superior First Amendment-friendly alternative to highly censored Big Tech options. In just a few short years, FrankSpeech has grown to serve over 7 million monthly viewers on three continuous, 24/7 channels. FrankSpeech is a premier technology platform that hosts both content and content creators while also serving as a social media space committed to upholding free speech for everyone. Please visit https://frankspeech.com to learn more.
Cautionary Statement
Certain statements contained in this communication may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements regarding the expected timing of the completion of the spin-off transaction, the benefits of the spin-off transaction to either FrankSpeech Network, Inc. and other events and statements that are not historical facts and are subject to significant risks and uncertainties. There can be no assurance that the proposed transaction or other future events will occur as anticipated, if at all, or that actual results will be as expected. Actual future events or results may differ materially from these statements. Such differences may result from a number of factors, including but not limited to: the timing and completion of the proposed transaction; a failure to obtain necessary regulatory approvals; a failure to obtain assurances of anticipated tax treatment; or a deterioration in the business or prospects of FrankSpeech Network, Inc.
Media Inquiries
Josh Shave
Chief Marketing Officer
FrankSpeech Broadcast Network
investor@frankspeech.com
Investor Contact
FAQ
What is the new name of InCapta, Inc. (INCT) after the FINRA-processed corporate action?
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