Meta Materials Announces FINRA Has Revised Corporate Action for Exchange of Series A Preferred
Meta Materials Inc. (NASDAQ:MMAT) announced that FINRA revised its notice regarding the exchange of META's Series A Preferred shares (OTC:MMTLP) for shares in Next Bridge Hydrocarbons, Inc. Shareholders with settled MMTLP positions by December 12, 2022, will receive one share of Next Bridge for each MMTLP share held. Purchases made after December 8, 2022, are excluded from this distribution. The MMTLP symbol will be deleted on December 13, 2022. This update supersedes all prior disclosures concerning the MMTLP trading and distribution logistics.
- None.
- Significant revisions to prior disclosures may cause confusion among shareholders.
- MMTLP trading restrictions after December 8 could limit liquidity for investors.
HALIFAX, NS / ACCESSWIRE / December 8, 2022 / Meta Materials Inc. (the "Company" or "META®") (NASDAQ:MMAT)(FSE:MMAT), a developer of high-performance functional materials and nanocomposites, today announced that FINRA has revised its notice regarding the corporate action of exchanging META's Series A Preferred shares (OTC:MMTLP) for shares of common stock of Next Bridge Hydrocarbons, Inc. on its daily list. Please see https://otce.finra.org/otce/dailyList which notes the following regarding the trading of shares of MMTLP on OTC and the distribution of the Next Bridge Hydrocarbons, Inc. shares:
See Daily List of 12/6/2022. Announcement Revised: MMTLP shareholders with settled positions as of 12/12/22 will receive one (1) share of Next Bridge Hydrocarbons, Inc. for every one (1) share of MMTLP held. Purchases of MMTLP executed after 12/8/22 will not receive the distribution. Will not be quoted Ex. Symbol: MMTLP will be deleted effective 12/13/22.
Please note that this disclosure and dates from FINRA regarding the trading of MMTLP in connection with the distribution of the shares of Next Bridge Hydrocarbons, Inc. supersedes and replaces all of META's prior disclosure regarding the logistics and timing of the trading of MMTLP in connection with the distribution.
Please contact your broker, bank or other nominee for assistance with any questions concerning ownership or trading of META's Series A Preferred shares.
About Meta Materials Inc.
META® delivers previously unachievable performance, across a range of applications, by inventing, designing, developing, and manufacturing sustainable, high-performance, functional materials, components and systems. Our extensive technology platform enables leading global brands to deliver breakthrough products to their customers in consumer electronics, 5G communications, health and wellness, aerospace, automotive, and clean energy. Our nano-optic metamaterial technology provides anti-counterfeiting security features for government documents and currencies and authentication for brands. Our achievements have been widely recognized, including being named a Lux Research Innovator of the Year in 2021. Learn more at www.metamaterial.com.
Media Inquiries
Rob Stone
Vice President, Corporate Development and Communications
Meta Materials Inc.
media@metamaterial.com
Investor Contact
Mark Komonoski
Senior Vice President
Integrous Communications
Phone: 1-877-255-8483
Email: ir@metamaterial.com
Cautionary Statements
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 META® or Next Bridge 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 META® or Next Bridge.
SOURCE: Meta Materials Inc.
View source version on accesswire.com:
https://www.accesswire.com/730989/Meta-Materials-Announces-FINRA-Has-Revised-Corporate-Action-for-Exchange-of-Series-A-Preferred
FAQ
What are the key dates for the MMTLP exchange announced by Meta Materials?
What happens to the MMTLP stock after December 13, 2022?
Where can I find the official announcement regarding the MMTLP exchange?
