AgEagle Aerial Systems announces 1-for-50 reverse stock split to meet NYSE American price requirement

AgEagle Aerial Systems Inc.

Reverse stock split at 1:50 ratio approved by Board on Oct 3, 2024; effective Oct 14, 2024 at 5:00 p.m. ET.
Outstanding shares will reduce from 39,720,458 to approximately 850,409; no fractional shares issued, rounding up to whole share.
Ticker symbol UAVS unchanged; new CUSIP number 00848K 309.
Split intended to ensure compliance with NYSE American minimum per-share price listing standard.
Stockholders holding in street name need not take action; Equiniti Trust Company acting as exchange agent.

Key facts

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Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

AgEagle Aerial Systems Inc.: Approved a 1-for-50 reverse stock split of common stock, effected by amending the articles of incorporation, effective October 14, 2024 (effective 2024-10-14).

Change: charter amendment
Effective: 2024-10-14

Exact text from the filing

On October 3, 2024, the Board of Directors of the Company approved a reverse stock split of the Company’s authorized, issued and outstanding shares of common stock, par value $0.001 per share, at a ratio of one (1) share of common stock for every fifty (50) shares of common stock (the “Reverse Stock Split”). The Company anticipates that the Reverse Stock Split will be effective at 5:0 p.m., Eastern Time, on October 14, 2024.

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Source: SEC EDGAR

accession 0001493152-24-039389

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