Xos announces 1-for-30 reverse stock split to comply with Nasdaq minimum bid price

Xos, Inc.

Reverse stock split at 1:30 ratio effective 5:00 p.m. ET on Dec 6, 2023.
Split intended to increase share price to meet Nasdaq's minimum bid price requirement and maintain listing.
No fractional shares; cash in lieu. Proportional adjustments to warrants, RSUs, convertible debt, and earn-out targets.
Warrants adjusted: every 30 warrants exercisable for 1 share at $345.00 (30x$11.50). Stockholders need not take action.

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