Vortex Brands Announces 25-for-1 Forward Stock Split Has Been Filed with FINRA
Vortex Brands Co. (OTC: VTXB) has filed a notice with FINRA for a 25-for-1 forward stock split, effective on February 28, 2022, for shareholders on record by that date. The primary purpose of the stock split is to enhance the capital structure's appeal to a broader range of investors. The company's total market value will remain unchanged due to this split. The Board considered a more substantial increase but opted for the current ratio with plans for smaller stock dividends throughout 2022.
- The forward split is aimed at attracting a wider range of investors.
- The decision to not increase the split beyond 25-for-1 indicates careful consideration of shareholder interests.
- No guaranteed assurance that revenue projections will be met, due to external factors affecting Bitcoin mining operations.
DENVER, Feb. 4, 2022 /PRNewswire/ -- Vortex Brands Co. (OTC: VTXB) is announcing it has filed with FINRA its corporation action notice for a forward share split on the basis of twenty-five (25) new common shares for each one (1) old common share (the "Stock Split"). All shareholders of record as at the record date of February 28, 2022, will be entitled to the Stock Split. The total market value of the shares outstanding will not be affected because of this forward split. The primary reason for the Stock Split is to make Vortex's capital structure more attractive to a wider range of investors. We are currently finalizing the filing for FINRA and are required to file with FINRA 10 days prior to record date.
The Company's Board of Directors explored increasing the forward split but decided to do 25 for 1 with smaller stock dividends throughout the 2022 fiscal year.
About Vortex Brands Co.: The Company operates as Technology Holdings Company that focuses on cryptocurrency sector, particularly Bitcoin Mining. Additional information is available by visiting company's website at www.vortexbrands.us or on twitter at https://twitter.com/Vortexbrands.
*Revenue related calculations. Please note that the Company believes that any revenue related calculations are accurate and based on factual information, there can be no assurance that the Company will be able to achieve all projections due to number of business-related factors, such as power pricing, mining equipment availability, bitcoin mining difficulty, bitcoin market pricing and other unforeseen issues in deploying its mining rigs. You can view update information on Bitcoin Mining by visiting https://novablock.com/calculator.
Certain statements in this release constitute forward-looking statements. These statements include the capabilities and success of the Company's business and any of its products, services or solutions. The words "believe," "forecast," "project," "intend," "expect," "plan," "should," "would," and similar expressions and all statements, which are not historical facts, are intended to identify forward-looking statements. These forward-looking statements involve and are subject to known and unknown risks, uncertainties and other factors, any of which could cause the Company to not achieve some or all of its goals or the Company's previously reported actual results, performance (finance or operating) to change or differ from future results, performance (financing and operating) or achievements, including those expressed or implied by such forward-looking statements. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company's filings with the SEC, copies of which may be obtained from the SEC's website at www.sec.gov. The Company assumes no, and hereby disclaims any, obligation to update the forward-looking statements contained in this press release.
View original content:https://www.prnewswire.com/news-releases/vortex-brands-announces-25-for-1-forward-stock-split-has-been-filed-with-finra-301475478.html
SOURCE Vortex Brands Co.
FAQ
What is Vortex Brands' upcoming stock split date?
What is the ratio of the Vortex Brands stock split?
Why is Vortex Brands conducting a forward stock split?
How will the stock split affect the market value of Vortex Brands?
Does Vortex Brands guarantee revenue projections following the stock split?
