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Rennova Health has executed a 1 for 1,000 reverse stock split effective July 16, 2021, reducing its outstanding shares from approximately 10 billion to 10 million. Starting July 19, trading will occur under the temporary symbol RNVAD, reverting to RNVA after 20 business days. The nominal par value remains unchanged at $0.0001. All stock options, warrants, and preferred shares will be adjusted accordingly. Stockholders will receive instructions for exchanging stock certificates from Computershare Inc., the appointed exchange agent.
Rennova Health, Inc. (OTC: RNVA, RNVAW) provided a business update during an interview with Stock Day host Everett Jolly. CEO Seamus Lagan reported stabilization in the company's operations during Q2, highlighting a significant reduction in convertible preference shares. The company anticipates filing its 10-Q by mid-August, aided by changes in the financial team. Lagan expressed confidence in the success of the newly separated software division and indicated an end to issuing additional common shares may be near. Long-term prospects appear promising despite pandemic-related challenges.
Rennova Health, Inc. (OTC: RNVA; RNVAW) announced a 1 for 1,000 reverse stock split effective at 5:00 PM ET on July 16, 2021. The post-split trading will commence on July 19, 2021, reducing outstanding shares from approximately 10 billion to 10 million. Preferred shares, stock options, and warrants will also be adjusted accordingly. This move follows approval by the company's directors on July 8, 2021, and aims to consolidate share structure without altering the par value per share. The split is expected to better position the company in the market.
Rennova Health has successfully completed a merger agreement with VisualMED Clinical Solutions Corp involving its software and genetic testing divisions. This strategic move aims to enhance operational efficiency and innovation in healthcare solutions. Following the merger, VisualMED intends to comply with SEC reporting requirements to become a fully reporting entity. Rennova plans to distribute shares of VisualMED to its shareholders in the future. CEO Seamus Lagan expressed optimism about delivering greater shareholder value through this new public entity.
Rennova Health, Inc. (OTC: RNVA, RNVAW) announced a merger agreement with VisualMED Clinical Solutions Corp. to integrate their software and genetic testing interpretation divisions. The merger aims to enhance focus and value in health technology solutions. The completion of this agreement relies on VisualMED's adherence to OTC reporting requirements, with expected closure soon. Upon closure, VisualMED plans to rename and file necessary documentation with the SEC. CEO Seamus Lagan emphasized this strategic move to improve operations in the healthcare sector.
Rennova Health, Inc. (OTC: RNVA, RNVAW) has announced the completion of an agreement to merge its software and genetic testing interpretation divisions with VisualMED Clinical Solutions Corp. This merger will involve Health Technology Solutions, Inc. and Advanced Molecular Services Group, Inc. operating as subsidiaries of VisualMED following customary closing conditions, expected by May 31, 2020. The move aims to enhance focus and value in the healthcare software sector, with VisualMED committed to fulfilling OTC reporting requirements to become fully compliant.
Rennova Health, Inc. (OTC: RNVA, RNVAW) has terminated merger discussions with TPT Global Tech, Inc. regarding their software and genetic testing divisions. After months of negotiations, the parties could not finalize terms and have agreed to part ways. Rennova will now pursue other options, including filing a Form 10 with the SEC to separate its software division, and remains focused on creating a next-generation telehealth platform. CEO Seamus Lagan expressed disappointment over the failed merger but aims to enhance shareholder value through this new direction.
