RDARS Inc. Announces Intention to Consolidate Its Share Capital
RDARS Inc. (CSE: RDRS), an autonomous robotics and drone technology company, has announced its intention to consolidate its share capital on a twenty-for-one basis. The Share Consolidation was approved by shareholders on May 31, 2023, and will take effect on June 6, 2023, when trading resumes on the Canadian Securities Exchange (CSE).
The consolidation will reduce the number of outstanding common shares from 354,425,745 to approximately 17,721,287. Registered shareholders will receive instructions on exchanging their pre-consolidation shares for post-consolidation shares. The exercise price and number of shares issuable under outstanding warrants and stock options will be adjusted proportionately.
The Share Consolidation remains subject to CSE approval, and the company will provide further details as they become available.
RDARS Inc. (CSE: RDRS), un'azienda specializzata in robotica autonoma e tecnologia dei droni, ha annunciato la sua intenzione di consolidare il capitale azionario su base venti a uno. La Consolidazione delle Azioni è stata approvata dagli azionisti il 31 maggio 2023 e avrà effetto il 6 giugno 2023, quando la negoziazione riprenderà sulla Canadian Securities Exchange (CSE).
La consolidazione ridurrà il numero di azioni ordinarie in circolazione da 354.425.745 a circa 17.721.287. Gli azionisti registrati riceveranno istruzioni su come scambiare le loro azioni pre-consolidazione con quelle post-consolidazione. Il prezzo di esercizio e il numero di azioni trasferibili sotto warrant e opzioni azionarie in essere saranno adeguati proporzionalmente.
La Consolidazione delle Azioni è soggetta all'approvazione del CSE, e l'azienda fornirà ulteriori dettagli man mano che saranno disponibili.
RDARS Inc. (CSE: RDRS), una empresa de tecnología en robótica autónoma y drones, ha anunciado su intención de consolidar su capital social en una base de veinte a uno. La Consolidación de Acciones fue aprobada por los accionistas el 31 de mayo de 2023 y entrará en vigor el 6 de junio de 2023, cuando se reanuden las operaciones en la Canadian Securities Exchange (CSE).
La consolidación reducirá el número de acciones comunes en circulación de 354.425.745 a aproximadamente 17.721.287. Los accionistas registrados recibirán instrucciones sobre el intercambio de sus acciones pre-consolidación por acciones post-consolidación. El precio de ejercicio y el número de acciones emitibles bajo las opciones y warrants existentes se ajustarán proporcionalmente.
La Consolidación de Acciones sigue sujeta a la aprobación del CSE, y la empresa proporcionará más detalles a medida que estén disponibles.
RDARS Inc. (CSE: RDRS), 자율 로봇 및 드론 기술 회사가 20대 1 비율로 자본금을 통합할 의사를 발표했습니다. 주식 통합은 2023년 5월 31일 주주들의 승인을 받았으며, 2023년 6월 6일 캐나다 증권 거래소(CSE)에서 거래가 재개될 때 효력을 발휘합니다.
이번 통합으로 발행된 보통주 수는 354,425,745주에서 약 17,721,287주로 줄어듭니다. 등록된 주주들은 통합 전 주식을 통합 후 주식으로 교환하는 방법에 대한 지침을 받게 됩니다. 발행 중인 워런트와 스톡 옵션에 따라 발행 가능한 주식의 가격과 수량 또한 비례적으로 조정됩니다.
주식 통합은 CSE의 승인을 받아야 하며, 회사는 세부 사항이 따로 정해지는 대로 추가 정보를 제공할 것입니다.
RDARS Inc. (CSE: RDRS), une entreprise spécialisée dans la robotique autonome et la technologie des drones, a annoncé son intention de consolider son capital social sur une base de vingt pour un. La Consolidation des Actions a été approuvée par les actionnaires le 31 mai 2023 et entrera en vigueur le 6 juin 2023, lorsque la négociation reprendra à la Bourse canadienne des valeurs mobilières (CSE).
La consolidation réduira le nombre d'actions ordinaires en circulation de 354.425.745 à environ 17.721.287. Les actionnaires enregistrés recevront des instructions sur l'échange de leurs actions avant consolidation contre des actions après consolidation. Le prix d'exercice et le nombre d'actions émises sous les options d'achat d'actions et les warrants en circulation seront ajustés proportionnellement.
La consolidation des actions reste soumise à l'approbation de la CSE, et l'entreprise fournira d'autres détails dès qu'ils seront disponibles.
RDARS Inc. (CSE: RDRS), ein Unternehmen für autonome Robotik und Drohnentechnologie, hat die Absicht angekündigt, sein Aktienkapital im Verhältnis von zwanzig zu eins zu konsolidieren. Die Aktiens consolidation wurde am 31. Mai 2023 von den Aktionären genehmigt und tritt am 6. Juni 2023 in Kraft, wenn der Handel an der Canadian Securities Exchange (CSE) wieder aufgenommen wird.
Durch die Konsolidierung wird die Anzahl der ausstehenden Stammaktien von 354.425.745 auf etwa 17.721.287 reduziert. Eingetragene Aktionäre erhalten Anweisungen zum Austausch ihrer Aktien vor der Konsolidierung gegen die Aktien nach der Konsolidierung. Der Ausübungspreis und die Anzahl der unter ausstehenden Warrants und Aktienoptionen ausgebbaren Aktien werden entsprechend angepasst.
Die Aktienkonsolidierung steht unter dem Vorbehalt der Genehmigung durch die CSE, und das Unternehmen wird weitere Einzelheiten bekannt geben, sobald diese verfügbar sind.
- Share consolidation may improve the company's capital structure and potentially attract new investors
- Shareholder approval obtained for the share consolidation, indicating support for the decision
- Significant reduction in the number of outstanding shares may impact liquidity
- Share consolidation does not inherently increase company value or address underlying business challenges
Toronto, Ontario--(Newsfile Corp. - May 31, 2023) - RDARS Inc. (CSE: RDRS) ("RDARS" or the "Company"), an autonomous robotics and drone technology company developing advanced systems for alarm system augmentation and surveillance, is pleased to announce that its board of directors have approved a consolidation (the "Share Consolidation") of the Company's share capital on a twenty-for-one basis. The Share Consolidation was approved at the Company's annual and special meeting of shareholders held on May 31, 2023.
The Company will begin trading on a post-consolidation basis on June 6, 2023, at the commencement of trading on the Canadian Securities Exchange ("CSE").
The Share Consolidation will reduce the number of issued and outstanding common shares ("Common Shares") from 354,425,745 Common Shares to approximately 17,721,287 Common Shares. A letter of transmittal will be sent by mail to registered shareholders advising them that the Share Consolidation has taken effect. The letter of transmittal will contain instructions on how registered shareholders can exchange their share certificates or Direct Registration System ("DRS") statements evidencing their pre-consolidation Common Shares for new share certificates or new DRS statements representing the number of post-consolidation Common Shares to which they are entitled.
The exercise or conversion price and the number of Common Shares issuable under any of the Company's outstanding warrants and stock options will be proportionately adjusted to reflect the Share Consolidation in accordance with the respective terms thereof.
The Company will provide further details regarding the Share Consolidation as soon as they become available. Completion of the Share Consolidation remains subject to the approval of the CSE.
About RDARS Inc.
RDARS possesses a disruptive technology that is advancing the security industry's approach to protecting commercial, industrial, and residential properties, by introducing protection with autonomous artificial intelligence systems that allows for real time response, situation awareness, verification, intervention, evidence recording, data capture, analysis, and immediate downstream transmissions to public safety agencies. RDARS has the ability, upon a property security breach, in real time to receive, analyze, and downstream the data and inform public safety agencies who the perpetrators potentially are before they even arrive at the property.
Founded in 2019, RDARS is an originator in its innovative equipment manufacturer of its flagship product, the Eagle Watch Platform comprising of Eagle Eye, a drone, Eagle Nest, a drone station, Eagle Rover, an indoor robotic system, and Eagle Watch Command & Control Software. The Company's autonomous robotic systems provide situational awareness in a cost effective and reliable manner. The Company's mission is to improve alarm response and situational awareness by obtaining required approvals from federal regulatory agencies for BVLOS operations. RDARS is currently developing its technology for private and enterprise customers in the United States and Canada, where these customers require a more reliable and advanced understanding of their property security. For more information about RDARS, please visit its website at www.rdars.com and its profile page on SEDAR at www.sedar.com.
Cautionary Statements
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance of the Company. The use of any of the words "could", "intend", "expect", "believe", "will", "may", "projected", "estimated" and similar expressions, and negatives thereto, and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this press release contains forward-looking information relating to the Company completing the Share Consolidation and the timing thereof. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to the parties. The material factors and assumptions include the Company completing the Share Consolidation and receiving all necessary regulatory and stock exchange approvals to complete the Consolidation. Forward-looking information necessarily involve known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such forward-looking statements. Such risks and factors include, but are not limited to, risk that the Company may not complete the Share Consolidation and may not receive all applicable regulatory and stock exchange approvals. The forward-looking information contained in this release is made as of the date hereof and the parties are not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
For further information, please contact:
RDARS Inc.
Charles Zwebner
Chief Executive Officer
T: (786) 564-5602
E: charles.zwebner@rdars.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/168298
FAQ
What is the share consolidation ratio announced by RDARS Inc. (RDRSF)?
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Will the share consolidation affect RDARS Inc. (RDRSF) warrants and stock options?
