Nordicus Partners Corporation Announces Reverse Stock Split

Rhea-AI Summary

Nordicus Partners (OTCQB: NORD) announced a 1-for-10 reverse stock split of its common stock, effective November 8, 2024. The company's stock will continue trading on OTCQB under the symbol 'NORD' with a new CUSIP number 28265K 304. The reverse split was approved by stockholders and the Board of Directors on June 7, 2024. Transfer Online, Inc. will act as the transfer agent, and stockholders are not required to take any action as positions will be automatically adjusted.

Positive

• None.

Negative

• Implementation of 1-for-10 reverse stock split indicates potential share price concerns
• Reverse split reduces number of outstanding shares, which may impact stock liquidity

Beverly Hills, California., Nov. 07, 2024 (GLOBE NEWSWIRE) -- Nordicus Partners Corporation (OTCQB: NORD) (“Nordicus” or the “Company”), a financial consulting company specializing in providing Nordic and U.S. life sciences companies with optimal conditions to establish themselves on the U.S. market, today announced that it will effect a 1-for-10 reverse stock split (“Reverse Stock Split”) of its common stock, par value $0.001per share (“Common Stock”), that will become effective at 12:01 a.m. Eastern Time on November 8, 2024. The Company’s Common Stock will continue to trade on the OTCQB market under the symbol “NORD” and will begin trading on a split-adjusted basis when the OTC market opens on November 8, 2024.

The new CUSIP number of the Common Stock following the Reverse Stock Split will be 28265K 304.

The Reverse Stock Split was approved by a majority of the Company’s stockholders on June 7, 2024. On June 7, 2024, the Company’s Board of Directors approved the Reverse Stock Split at the ratio of 1-for-10.

Transfer Online, Inc., the Company’s transfer agent, is acting as transfer and exchange agent for the Reverse Stock Split. Registered stockholders who hold shares of Common Stock are not required to take any action to receive post-reverse split shares. Stockholders owning shares via a broker, bank, trust or other nominee will have their positions automatically adjusted to reflect the Reverse Stock Split, subject to such broker’s particular processes, and will not be required to take any action in connection with the Reverse Stock Split.

About Nordicus Partners Corporation

Nordicus Partners Corporation and its Denmark-based financial consulting company and wholly-owned subsidiary, Managementselskabet af 12.08.2020 A/S, specializes in providing Nordic and U.S. life sciences companies with the best possible conditions to establish themselves on the U.S. market, taking advantage of management’s combined +90 years of experience in the corporate sector, serving in different capacities both domestically and globally. Nordicus’ 95% owned subsidiary, Orocidin A/S, is a clinical-stage biopharmaceutical company which is advancing the next generation of periodontitis therapies. Nordicus’ core competencies lie in assisting Danish as well as other Nordic and international companies in different areas of corporate finance activities, such as: business valuations, growth strategies, attracting capital for businesses and company acquisitions and sales. For more information about Nordicus, please visit: www.nordicuspartners.com

Forward-Looking Statements

The Company believes that this press release contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Terms such as “may,” “might,” “would,” “should,” “could,” “project,” “estimate,” “pro-forma,” “predict,” “potential,” “strategy,” “anticipate,” “attempt,” “develop,” “plan,” “help,” “believe,” “continue,” “intend,” “expect,” “future,” and terms of similar import (including the negative of any of these terms) may identify forward-looking statements. Such forward-looking statements, including but not limited to statements regarding the plans and objectives of management for future operations, are based on management’s current expectations and are subject to risks and uncertainties that could cause results to differ materially from the forward-looking statements. Actual results and the timing of certain events and circumstances may differ materially from those described by the forward-looking statements as a result of these risks and uncertainties. Factors that may influence or contribute to the accuracy of the forward-looking statements or cause actual results to differ materially from expected or desired results may include, without limitation, market acceptance of the company’s products and services; competition from existing products or new products that may emerge; the implementation of the company’s business model and strategic plans for its business and our products; estimates of the company’s future revenue, expenses, capital requirements and need for financing; current and future government regulations; and developments relating to the company’s competitors. Readers are cautioned not to place undue reliance on forward-looking statements because of the risks and uncertainties related to them. For further information on such risks and uncertainties, you are encouraged to review the Company’s filings with the Securities and Exchange Commission (“SEC”), including its Annual Report on Form 10-K for the fiscal year ended March 31, 2024. The Company assumes no obligation to update any forward-looking statements as a result of new information or future events or developments, except as required by law.

For further information contact

Mr. Henrik Rouf
Chief Executive Officer
Phone +1 310 666.0750
Email hr@nordicuspartners.com

FAQ

When will Nordicus Partners (NORD) reverse stock split take effect?

The 1-for-10 reverse stock split will take effect at 12:01 a.m. Eastern Time on November 8, 2024.

What is the new CUSIP number for Nordicus Partners (NORD) after the reverse split?

The new CUSIP number following the reverse stock split will be 28265K 304.

Do NORD shareholders need to take any action for the reverse stock split?

No, shareholders do not need to take any action. Positions will be automatically adjusted to reflect the reverse stock split.

What is the reverse split ratio for Nordicus Partners (NORD)?

The reverse split ratio is 1-for-10, meaning every 10 shares will be combined into 1 share.