AgEagle Aerial Systems Inc. Announces Reverse Stock Split
AgEagle Aerial Systems announced a reverse stock split at a ratio of 1-for-50, effective October 14, 2024. The stock will trade on a split-adjusted basis starting October 15, 2024, under the ticker UAVS and a new CUSIP number. This action reduces the outstanding shares from 39,720,458 to approximately 850,409, aiming to meet NYSE American's per share price requirements. Shareholders will not need to take any action for the adjustment, and fractional shares will be rounded up. The reverse split was authorized by the Board of Directors, leveraging Nevada state laws that allow such changes without shareholder approval. The company's transfer agent, Equiniti Trust Company, will manage the exchange process for stockholders with physical certificates.
AgEagle Aerial Systems ha annunciato un raggruppamento azionario con un rapporto di 1 per 50, efficace dal 14 ottobre 2024. Le azioni verranno scambiate in base al nuovo rapporto a partire dal 15 ottobre 2024, sotto il ticker UAVS e con un nuovo numero CUSIP. Questa azione riduce le azioni in circolazione da 39.720.458 a circa 850.409, con l'obiettivo di soddisfare i requisiti di prezzo per azione della NYSE American. Gli azionisti non dovranno intraprendere alcuna azione per l'aggiustamento, e le azioni frazionarie verranno arrotondate per eccesso. Il raggruppamento è stato autorizzato dal Consiglio di Amministrazione, avvalendosi delle leggi statali del Nevada che consentono tali modifiche senza l'approvazione degli azionisti. L'agente di trasferimento della società, Equiniti Trust Company, gestirà il processo di scambio per gli azionisti con certificati fisici.
AgEagle Aerial Systems anunció un dividir las acciones en un ratio de 1 por 50, que será efectivo el 14 de octubre de 2024. Las acciones se negociarán con base ajustada a partir del 15 de octubre de 2024, bajo el ticker UAVS y un nuevo número CUSIP. Esta acción reduce las acciones en circulación de 39,720,458 a aproximadamente 850,409, con el objetivo de cumplir con los requisitos de precio por acción de NYSE American. Los accionistas no necesitarán tomar ninguna medida para el ajuste, y las acciones fraccionarias se redondearán hacia arriba. La Junta de Directores autorizó el dividendo utilizando las leyes del estado de Nevada que permiten tales cambios sin la aprobación de los accionistas. El agente de transferencia de la compañía, Equiniti Trust Company, se encargará del proceso de intercambio para los accionistas con certificados físicos.
AgEagle Aerial Systems는 2024년 10월 14일부터 1대 50의 비율로 주식병합을 발표했습니다. 2024년 10월 15일부터는 UAVS라는 티커 아래 새로운 조정 기준으로 주식이 거래됩니다. 이 조치는 유통 주식을 39,720,458주에서 약 850,409주로 줄이며, NYSE American의 주당 가격 요건을 충족하는 것을 목표로 합니다. 주주들은 조정에 대해 어떠한 조치도 취할 필요가 없으며, 분할 주식은 올림 처리됩니다. 이번 병합은 주주 승인 없이 그러한 변경을 허용하는 네바다 주법을 이용하여 이사회에서 승인되었습니다. 회사의 주식 관리 대행사인 Equiniti Trust Company는 물리적 증서를 가지고 있는 주주들의 교환 프로세스를 관리할 것입니다.
AgEagle Aerial Systems a annoncé un regroupement d'actions au ratio de 1 pour 50, effectif à partir du 14 octobre 2024. Les actions seront échangées sur une base ajustée à partir du 15 octobre 2024, sous le ticker UAVS et avec un nouveau numéro CUSIP. Cette action réduit le nombre d'actions en circulation de 39 720 458 à environ 850 409, visant à répondre aux exigences de prix par action de la NYSE American. Les actionnaires n'auront pas besoin de prendre de mesures pour l'ajustement, et les actions fractionnaires seront arrondies à l'unité supérieure. Le regroupement a été autorisé par le conseil d'administration, en s'appuyant sur les lois de l'État du Nevada qui permettent de tels changements sans approbation des actionnaires. L'agent de transfert de l'entreprise, Equiniti Trust Company, gérera le processus d'échange pour les actionnaires ayant des certificats physiques.
AgEagle Aerial Systems kündigte einen Aktienzusammenschluss im Verhältnis 1 zu 50 an, der am 14. Oktober 2024 wirksam wird. Ab dem 15. Oktober 2024 werden die Aktien auf der Grundlage des angepassten Verhältnisses unter dem Ticker UAVS und einer neuen CUSIP-Nummer gehandelt. Diese Maßnahme reduziert die ausstehenden Aktien von 39.720.458 auf ungefähr 850.409, mit dem Ziel, die Anforderungen an den Preis pro Aktie der NYSE American zu erfüllen. Die Aktionäre müssen keine Maßnahmen zur Anpassung ergreifen, und Bruchstücke von Aktien werden aufgerundet. Der Rückzusammenschluss wurde vom Vorstand genehmigt und nutzt die Gesetze des Bundesstaates Nevada, die solche Änderungen ohne Genehmigung der Aktionäre erlauben. Der Übertragungsagent des Unternehmens, Equiniti Trust Company, wird den Austauschprozess für Aktionäre mit physischen Zertifikaten verwalten.
- None.
- Reverse stock split indicates potential struggles to meet NYSE American's per share price requirements.
- Reduction in outstanding shares from 39,720,458 to approximately 850,409 may signal dilution concerns.
Insights
AgEagle's announcement of a 1-for-50 reverse stock split is a significant move aimed at maintaining its NYSE American listing. This action will dramatically reduce the number of outstanding shares from 39,720,458 to approximately 850,409, potentially boosting the share price by a factor of 50. While reverse splits don't inherently change a company's value, they can impact investor perception and trading dynamics.
Key points to consider:
- The primary goal is to meet NYSE American's minimum share price requirements, which is important for maintaining listing and investor confidence.
- Reverse splits can sometimes be viewed negatively as they're often associated with struggling companies trying to avoid delisting.
- However, the consolidation of shares could attract institutional investors who may have been restricted from buying low-priced stocks.
- The reduced share count might lead to increased volatility in the stock price due to lower liquidity.
- Investors should watch for any changes in options contracts and margin requirements following the split.
Overall, while this move addresses immediate listing concerns, it's essential to monitor AgEagle's fundamental business performance and growth strategies to gauge long-term prospects.
Wichita, Kansas, Oct. 03, 2024 (GLOBE NEWSWIRE) -- AgEagle Aerial Systems Inc. (NYSE American: UAVS) (“AgEagle” or the “Company”), an industry-leading provider of full stack flight hardware, sensors and software for commercial and government use, announced today a reverse stock split of its authorized, issued and outstanding common stock, par value
As a result of the reverse split, each fifty (50) pre-split shares of common stock outstanding will automatically combine into one (1) new share of common stock without any action on the part of the holders, and the number of outstanding common shares will be reduced from 39,720,458 shares to approximately 850,409 shares without taking into account fractional shares.
The reverse stock split is being effected to ensure that the Company can meet the per share price requirements of the NYSE American, the Company's current listing exchange.
No fractional shares will be issued as a result of the reverse stock split. Shareholders who otherwise would be entitled to a fractional share because they hold a number of shares not evenly divisible by the 1 (one) for fifty (50) reverse split ratio, will automatically be entitled to receive an additional fractional share of the Company’s common stock to round up to the next whole share.
The Company’s transfer agent, Equiniti Trust Company, which is also acting as the exchange agent for the reverse split, will send instructions to stockholders of record who hold stock certificates regarding the exchange of their old certificates for new certificates, should they wish to do so. Stockholders who hold their shares in brokerage accounts or “street name” are not required to take action to effect the exchange of their shares.
This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor will there be any sales of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. For more detailed information relating to this transaction, please refer to the related Form 8-K to be filed by the Company with the U.S. Securities and Exchange Commission.
About AgEagle Aerial Systems Inc.
Through its three centers of excellence, AgEagle is actively engaged in designing and delivering best-in-class flight hardware, sensors and software that solve important problems for its customers. Founded in 2010, AgEagle was originally formed to pioneer proprietary, professional-grade, fixed-winged drones and aerial imagery-based data collection and analytics solutions for the agriculture industry. Today, AgEagle is a leading provider of full stack drone solutions for customers worldwide in the energy, construction, agriculture, and government verticals. For additional information, please visit our website at www.ageagle.com.
Forward-Looking Statement
This press release may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, each as amended. Forward-looking statements include all statements that do not relate solely to historical or current facts, including without limitation statements regarding the Company’s product development and business prospects, and can be identified by the use of words such as “may,” “will,” “expect,” “project,” “estimate,” “anticipate,” “plan,” “believe,” “potential,” “should,” “continue” or the negative versions of those words or other comparable words. Forward-looking statements are not guarantees of future actions or performance. These forward-looking statements are based on information currently available to the Company and its current plans or expectations and are subject to a number of risks and uncertainties that could significantly affect current plans. Should one or more of these risks or uncertainties materialize, or the underlying assumptions prove incorrect, actual results may differ significantly from those anticipated, believed, estimated, expected, intended, or planned. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, the Company cannot guarantee future results, performance, or achievements. Except as required by applicable law, including the securities laws of the United States, the Company does not intend to update any of the forward-looking statements to conform these statements to actual results.
AgEagle Aerial Systems Contacts
Investor Relations Email: UAVS@ageagle.com
Media Email: media@ageagle.com
FAQ
What is the effective date for AgEagle's reverse stock split?
What is the new trading CUSIP number for UAVS post-split?
How will the reverse stock split affect the number of outstanding shares of UAVS?
Why is AgEagle conducting a reverse stock split?
Do shareholders need to take any action for the reverse stock split of UAVS?
