Latest news with #ReverseStockSplit
Globe and Mail
a day ago
- Business
- Globe and Mail
Orion Energy Systems, Inc. Announces 1-For-10 Reverse Stock Split
MANITOWOC, Wis., Aug. 19, 2025 (GLOBE NEWSWIRE) -- Orion Energy Systems, Inc. (NASDAQ: OESX) (Orion Lighting), a provider of energy-efficient LED lighting, electric vehicle charging station and maintenance service solutions, announced today that its Board of Directors and shareholders approved a 1-for-10 reverse stock split of the Company's common stock, no par value per share, which will be effective at 12:01 a.m., Central Time, on August 22, 2025 (the 'Reverse Stock Split'). Orion's common stock will continue to be traded on The Nasdaq Capital Market on a split-adjusted basis beginning on August 22, 2025, under the Company's existing trading symbol 'OESX.' The Reverse Stock Split is intended to increase the bid price of the Company's common stock so that Orion can regain compliance with the minimum bid price requirement of $1.00 per share for continued listing on The Nasdaq Capital Market. The new CUSIP number following the Reverse Stock Split will be 686275 207. The Company filed an Amendment to its Amended and Restated Articles of Incorporation with the Wisconsin Department of Financial Institutions on August 19, 2025 to effect the Reverse Stock Split. The Reverse Stock Split will affect all shareholders uniformly and will not alter any shareholder's percentage ownership interest in the Company, except to the extent that the Reverse Stock Split results in that shareholder owning a fractional share as described in more detail below. The Reverse Stock Split will reduce the number of shares of common stock issued and outstanding from approximately 35.2 million to approximately 3.5 million. The total number of authorized shares of common stock will also be reduced proportionally from 200,000,000 to 20,000,000. No fractional shares will be issued in connection with the Reverse Stock Split. In lieu, thereof, each shareholder who would be entitled to receive a fractional share will be entitled to receive a cash payment equal to the product of the closing price on the day immediately prior to effectiveness of the Reverse Stock Split and the amount of the fractional share. The Reverse Stock Split will also result in proportional adjustments being made to all outstanding options, restricted stock, performance shares, or similar securities entitling their holders to receive or purchase shares of our common stock. Equinity Trust Company, LLC ('EQ'), the Company's transfer agent, will act as the exchange agent for the Reverse Stock Split. EQ will provide instructions to any shareholders with physical stock certificates regarding the process for exchanging their certificates for split-adjusted shares into 'book-entry form.' Shares held by shareholders in 'street name' will have their accounts automatically credited by their brokerage form, bank or other nominee, as will any shareholders who held their shares in book-entry form at EQ. About Orion Energy Systems ( Orion provides energy efficiency and clean tech solutions, including LED lighting and controls, electrical vehicle (EV) charging solutions, and maintenance services. Orion specializes in turnkey design-through-installation solutions for large national customers, as well as projects through ESCO and distribution partners, with a commitment to helping customers achieve their business and environmental goals with healthy, safe and sustainable solutions that reduce their carbon footprint and enhance business performance. Orion is committed to operating responsibly throughout all areas of our organization. Learn more about our Sustainability and Governance priorities, goals and progress here or visit our website at Safe Harbor Statement Certain matters discussed in this press release, are 'forward-looking statements' intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements may generally be identified as such because the context of such statements will include words such as 'anticipate,' 'believe,' 'could,' 'estimate,' 'expect,' 'intend,' 'may,' 'plan,' 'potential,' 'predict,' 'project,' 'should,' 'will,' 'would' or words of similar import. Similarly, statements that describe our future plans, objectives or goals, including our ability to maintain the listing of our common stock on the Nasdaq Capital Market, are also forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties that could cause results to differ materially from those expected including, but not limited to, the risks described in our filings with the Securities and Exchange Commission. Shareholders, potential investors and other readers are urged to consider risks and uncertainties carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements made herein are made only as of the date of this press release and we undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. More detailed information about factors that may affect our performance may be found in our filings with the Securities and Exchange Commission, which are available at or at in the Investor Relations section of our Website. Except as required by applicable law, we assume no obligation to update any forward-looking statements publicly or to update the reasons why actual results could differ materially from those anticipated in any forward-looking statements, even if new information becomes available in the future.
Yahoo
a day ago
- Business
- Yahoo
Orion Energy Systems, Inc. Announces 1-For-10 Reverse Stock Split
MANITOWOC, Wis., Aug. 19, 2025 (GLOBE NEWSWIRE) -- Orion Energy Systems, Inc. (NASDAQ: OESX) (Orion Lighting), a provider of energy-efficient LED lighting, electric vehicle charging station and maintenance service solutions, announced today that its Board of Directors and shareholders approved a 1-for-10 reverse stock split of the Company's common stock, no par value per share, which will be effective at 12:01 a.m., Central Time, on August 22, 2025 (the 'Reverse Stock Split'). Orion's common stock will continue to be traded on The Nasdaq Capital Market on a split-adjusted basis beginning on August 22, 2025, under the Company's existing trading symbol 'OESX.' The Reverse Stock Split is intended to increase the bid price of the Company's common stock so that Orion can regain compliance with the minimum bid price requirement of $1.00 per share for continued listing on The Nasdaq Capital Market. The new CUSIP number following the Reverse Stock Split will be 686275 207. The Company filed an Amendment to its Amended and Restated Articles of Incorporation with the Wisconsin Department of Financial Institutions on August 19, 2025 to effect the Reverse Stock Split. The Reverse Stock Split will affect all shareholders uniformly and will not alter any shareholder's percentage ownership interest in the Company, except to the extent that the Reverse Stock Split results in that shareholder owning a fractional share as described in more detail below. The Reverse Stock Split will reduce the number of shares of common stock issued and outstanding from approximately 35.2 million to approximately 3.5 million. The total number of authorized shares of common stock will also be reduced proportionally from 200,000,000 to 20,000,000. No fractional shares will be issued in connection with the Reverse Stock Split. In lieu, thereof, each shareholder who would be entitled to receive a fractional share will be entitled to receive a cash payment equal to the product of the closing price on the day immediately prior to effectiveness of the Reverse Stock Split and the amount of the fractional share. The Reverse Stock Split will also result in proportional adjustments being made to all outstanding options, restricted stock, performance shares, or similar securities entitling their holders to receive or purchase shares of our common stock. Equinity Trust Company, LLC ('EQ'), the Company's transfer agent, will act as the exchange agent for the Reverse Stock Split. EQ will provide instructions to any shareholders with physical stock certificates regarding the process for exchanging their certificates for split-adjusted shares into 'book-entry form.' Shares held by shareholders in 'street name' will have their accounts automatically credited by their brokerage form, bank or other nominee, as will any shareholders who held their shares in book-entry form at EQ. About Orion Energy Systems ( provides energy efficiency and clean tech solutions, including LED lighting and controls, electrical vehicle (EV) charging solutions, and maintenance services. Orion specializes in turnkey design-through-installation solutions for large national customers, as well as projects through ESCO and distribution partners, with a commitment to helping customers achieve their business and environmental goals with healthy, safe and sustainable solutions that reduce their carbon footprint and enhance business performance. Orion is committed to operating responsibly throughout all areas of our organization. Learn more about our Sustainability and Governance priorities, goals and progress here or visit our website at Safe Harbor StatementCertain matters discussed in this press release, are 'forward-looking statements' intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements may generally be identified as such because the context of such statements will include words such as 'anticipate,' 'believe,' 'could,' 'estimate,' 'expect,' 'intend,' 'may,' 'plan,' 'potential,' 'predict,' 'project,' 'should,' 'will,' 'would' or words of similar import. Similarly, statements that describe our future plans, objectives or goals, including our ability to maintain the listing of our common stock on the Nasdaq Capital Market, are also forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties that could cause results to differ materially from those expected including, but not limited to, the risks described in our filings with the Securities and Exchange Commission. Shareholders, potential investors and other readers are urged to consider risks and uncertainties carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements made herein are made only as of the date of this press release and we undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. More detailed information about factors that may affect our performance may be found in our filings with the Securities and Exchange Commission, which are available at or at in the Investor Relations section of our Website. Except as required by applicable law, we assume no obligation to update any forward-looking statements publicly or to update the reasons why actual results could differ materially from those anticipated in any forward-looking statements, even if new information becomes available in the future. Engage with UsX: @OrionLighting and @OrionLightingIRStockTwits: @OESX_IR Investor Relations Contacts Per Brodin, CFOOrion Energy Systems, William Jones; David CollinsCatalyst IR(212) 924-9800 or oesx@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
2 days ago
- Business
- Business Wire
GrafTech Announces 1-for-10 Reverse Stock Split of Common Stock
BROOKLYN HEIGHTS, Ohio--(BUSINESS WIRE)--GrafTech International Ltd. (NYSE: EAF) ('GrafTech,' the 'Company,' 'we,' or 'our') today announced that its Board of Directors has approved a 1-for-10 reverse stock split (the 'Reverse Stock Split') of GrafTech's common stock, par value $0.01 per share (the 'Common Stock'). The Reverse Stock Split was approved by GrafTech's stockholders at a Special Meeting of Stockholders held virtually on August 14, 2025. The Reverse Stock Split will become effective at 12:01 a.m. Eastern Time on August 29, 2025, and the Common Stock will open for trading on The New York Stock Exchange (the 'NYSE') on a reverse split-adjusted basis on August 29, 2025 under the existing trading symbol 'EAF.' The new CUSIP number for the Common Stock following the Reverse Stock Split will be 384313 607. At the effective time of the Reverse Stock Split, every ten (10) shares of the Common Stock either issued and outstanding or held as treasury stock will be automatically reclassified into one (1) share of the Common Stock. The total number of shares of the Common Stock authorized for issuance will be reduced by a corresponding proportion from 3,000,000,000 shares to 300,000,000 shares. The total number of shares of GrafTech's preferred stock, par value $0.01 per share (the 'Preferred Stock'), authorized for issuance will be reduced by a corresponding proportion from 300,000,000 shares to 30,000,000 shares. The par value of the Common Stock and the Preferred Stock will remain unchanged at $0.01 per share. As a result of the Reverse Stock Split, proportionate adjustments will be made to the number of shares of the Common Stock underlying GrafTech's outstanding equity awards and the number of shares issuable under GrafTech's equity incentive plan, as well as the exercise, grant and acquisition prices of such equity awards, as applicable. No fractional shares will be issued in connection with the Reverse Stock Split. Stockholders of record who otherwise would be entitled to receive fractional shares because they hold a number of shares not evenly divisible by the Reverse Stock Split ratio will automatically be entitled to receive an additional fraction of a share of Common Stock to round up to the next whole share. With respect to outstanding Common Stock held in 'street name' through a bank, broker or other nominee, fractional shares will be rounded up at the participant level. Cash will not be paid for fractional shares. Computershare Trust Company, N.A. is acting as transfer and exchange agent for the Reverse Stock Split. Record stockholders who hold shares of the Common Stock electronically in book-entry form are not required to take any action to receive post-reverse split shares. Banks, brokers or other nominees will be instructed to effect the Reverse Stock Split for their customers holding shares of the Common Stock in 'street name,' subject to such bank, broker or other nominee's particular processes. Record stockholders holding shares of the Common Stock in certificated form will be sent a transmittal letter by the transfer and exchange agent after the effective time of the Reverse Stock Split. The letter of transmittal will contain instructions on how a stockholder should surrender his, her or its certificate(s) representing shares of the Common Stock to the transfer and exchange agent. Additional information about the Reverse Stock Split can be found in GrafTech's definitive proxy statement filed with the Securities and Exchange Commission (the 'SEC') on July 11, 2025, which is available free of charge at the SEC's website, and on GrafTech's website at About GrafTech GrafTech International Ltd. is a leading manufacturer of high-quality graphite electrode products essential to the production of electric arc furnace steel and other ferrous and non-ferrous metals. The Company has a competitive portfolio of low-cost, ultra-high power graphite electrode manufacturing facilities, with some of the highest capacity facilities in the world. We are the only large-scale graphite electrode producer that is substantially vertically integrated into petroleum needle coke, our key raw material for graphite electrode manufacturing. This unique position provides us with competitive advantages in product quality and cost. Cautionary Note Regarding Forward-Looking Statements This press release may contain forward-looking statements within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements reflect our current views with respect to, among other things, financial projections, plans and objectives of management for future operations, future economic performance and short-term and long-term liquidity. Examples of forward-looking statements include, among others, statements we make regarding future estimated volume, pricing and revenue, anticipated levels of capital expenditures and cost of goods sold. You can identify these forward-looking statements by the use of forward-looking words such as 'will,' 'may,' 'plan,' 'estimate,' 'project,' 'believe,' 'anticipate,' 'expect,' 'foresee,' 'intend,' 'should,' 'would,' 'could,' 'target,' 'goal,' 'continue to,' 'positioned to,' 'are confident,' or the negative versions of those words or other comparable words. Any forward-looking statements contained in this press release are based upon our historical performance and on our current plans, estimates and expectations considering information currently available to us. The inclusion of this forward-looking information should not be regarded as a representation by us that the future plans, estimates, or expectations contemplated by us will be achieved. Our expectations and targets are not predictions of actual performance and historically our performance has deviated, often significantly, from our expectations and targets. These forward-looking statements are subject to various risks and uncertainties and assumptions relating to our operations, financial results, financial condition, business, prospects, growth strategy and liquidity. Accordingly, there are or will be important factors that could cause our actual results to differ materially from those indicated in these statements. We believe that these factors include, but are not limited to risks and uncertainties associated with our ability to access the capital and credit markets could adversely affect our results of operations, cash flows and financial condition; and risks and uncertainties associated with the implementation of the Reverse Stock Split, the potential effects of the Reverse Stock Split, the trading of our Common Stock and our ability to continue to meet NYSE continued listing standards. These factors should not be construed as exhaustive and should be read in conjunction with the Risk Factors and other cautionary statements that are included in our most recent Annual Report on Form 10-K, our Quarterly Reports on Form 10-Q and other filings with the SEC. The forward-looking statements made in this press release relate only to events as of the date on which the statements are made. Except as required by law, we do not undertake any obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise.
Yahoo
25-07-2025
- Business
- Yahoo
Calidi announces Reverse Stock Split, expected to begin trading on a 1-for-12 split adjusted basis on August 5, 2025
SAN DIEGO, July 25, 2025 (GLOBE NEWSWIRE) -- Calidi Biotherapeutics, Inc. ('Calidi' or the 'Company') (NYSE American: CLDI), a clinical-stage biotechnology company pioneering the development of targeted therapies with the potential to deliver genetic medicines to distal sites of disease, announced today that it will effect a reverse stock split of its outstanding shares of common stock at a ratio of 1-for-12 (the 'Reverse Stock Split'). The Company's common stock is expected to commence trading on a split-adjusted basis when the NYSE American market opens on August 5, 2025 under the existing symbol of 'CLDI.' The new CUSIP number for the Company's common stock following the Reverse Stock Split will be 320703 408. The noncompulsory decision to implement this stock split reflects the Company's aim to optimize market dynamics, broaden investor appeal and accessibility, and align the stock's trading conditions with the best interests of its investors. The Reverse Stock Split was approved by the Company's stockholders at its annual general meeting of stockholders held on July 9, 2025. On July 11, 2025, the Company's Board of Directors approved the Reverse Stock Split at the ratio of 1-for-12. Following the effectiveness of the Reverse Stock Split, every twelve (12) pre-split shares of outstanding common stock will become one (1) share of common stock. Stockholders of record who would otherwise be entitled to receive a fractional share will automatically be entitled to the rounding up of the fractional share to the nearest whole share. The Company does not intend to round up fractional shares at the beneficial level and will instead round any such fractional shares up at the participant level. Proportionate adjustments will be made to (i) shares of common stock issuable upon exercise or conversion of all issued and outstanding options, warrants and convertible securities of every kind, in accordance with the terms of each instrument, and (ii) shares outstanding and authorized for issuance under the Company's equity incentive plan and the employee stock purchase plan, both as amended. The Reverse Stock Split will not affect the par value of the common stock, nor the number of authorized but unissued shares of common stock, nor the Company's authorized preferred stock. Information for Calidi Stockholders Upon the effectiveness of the Reverse Stock Split, every twelve (12) shares of common stock owned prior to the split will be consolidated and reclassified into one (1) share of common stock. The Company has appointed Equiniti Trust Company, LLC as the exchange agent to facilitate the Reverse Stock Split process. Registered stockholders with shares held in book-entry form do not need to take any action to receive post-split shares. Those holding shares through brokerage accounts or 'in street name' will see their holdings automatically adjusted to reflect the Reverse Stock Split, in line with individual broker processes, without needing to take further action. Stockholders with shares in certificate form will receive instructions from Equiniti on the procedure for exchanging their certificates, as applicable, shortly after the effective date of the Reverse Stock Split. About Calidi Biotherapeutics Calidi Biotherapeutics (NYSE American: CLDI) is a clinical-stage biotechnology company pioneering the development of targeted therapies that can deliver genetic medicines to sites of disease. The company's proprietary Redtail platform represents a decade of development and expertise in designing viral vectors that can evade immune detection allowing for systemic delivery and distal sites of disease in oncology and, potentially, other indications. This advanced enveloped technology is intended to shield the virus from immune clearance, allowing virotherapy to effectively reach tumor sites, induce tumor lysis, and deliver potent gene therapies to metastatic locations. The lead candidate from the Redtail platform, currently in IND-enabling studies, targets non-small cell lung cancer, ovarian cancer, and other tumor types with high unmet medical need. Additionally, Calidi is developing protected virotherapies, in clinical-stage, for intratumoral and localized administration, focusing on a subset of injectable cancer indications. Calidi Biotherapeutics is headquartered in San Diego, California. For more information, please visit Forward-Looking StatementsThis press release may contain forward-looking statements for purposes of the 'safe harbor' provisions under the United States Private Securities Litigation Reform Act of 1995. Terms such as 'anticipates,' 'believe,' 'continue,' 'could,' 'estimate,' 'expect,' 'intends,' 'may,' 'might,' 'plan,' 'possible,' 'potential,' 'predicts,' 'project,' 'should,' 'towards,' 'would' as well as similar terms, are forward-looking in nature, but the absence of these words does not mean that a statement is not forward-looking. These forward looking statements include, but are not limited to, statements concerning use of proceeds from the offering, that the closing of offering will occur or will occur on the anticipated closing date, upcoming key milestones, planned clinical trials, and statements relating to the safety and efficacy of Calidi's therapeutic candidates in development. Any forward-looking statements contained in this discussion are based on Calidi's current expectations and beliefs concerning future developments and their potential effects and are subject to multiple risks and uncertainties that could cause actual results to differ materially and adversely from those set forth or implied in such forward-looking statements. These risks and uncertainties include, but are not limited to, the risk that Calidi is not able to raise sufficient capital to support its current and anticipated clinical trials, the risk that early results of clinical trials do not necessarily predict final results and that one or more of the clinical outcomes may materially change following more comprehensive review of the data, and as more patient data becomes available, the risk that Calidi may not receive FDA approval for some or all of its therapeutic candidates. Other risks and uncertainties are set forth in the section entitled 'Risk Factors' and 'Cautionary Note Regarding Forward-Looking Statements' in the Company's Form 10-K filed on March 31, 2025 and Form 10-Q filed on May 14, 2025. These reports may be amended or supplemented by other reports we file with the SEC from time to time. Contact:Dave GentryRedChip Companies, Inc.1-407-644-4256CLDI@ in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
11-07-2025
- Business
- Yahoo
PREMIUM CATERING (HOLDINGS) LIMITED ANNOUNCES RESULTS OF ITS EXTRAORDINARY GENERAL MEETING AND SHARE CONSOLIDATION
SINGAPORE, July 11, 2025 (GLOBE NEWSWIRE) -- Premium Catering (Holdings) Limited ('PC' or the 'Company') (Nasdaq: PC), announced that the members approved a share consolidation ('Reverse Stock Split') of the Company's authorized and issued Ordinary Shares at a ratio from 1 for 2 to 1 for 18 (the 'Range') at an Extraordinary General Meeting ('EGM') held today. Following the EGM, the Board of Directors authorized a Reverse Stock Split of 1:9 for all shareholders of record on July 21, 2025. The Company's Ordinary Shares are expected to begin trading on a Reverse Stock Split adjusted basis on the Nasdaq Capital Market as of the open of trading on July 22, 2025 under the existing ticket symbol of 'PC'. The Board of Directors believes it is in the best interests of the Company and its Members to maintain compliance with the minimum bid requirements set forth in Nasdaq Listing Rule 5550(a)(2) (the 'Minimum Bid Requirements') and be traded on the Nasdaq Capital Market. The Minimum Bid Requirements require that the Company's ordinary shares maintain a minimum bid price of $1.00 in order to continue listing on the Nasdaq Capital Market. The Board believes that effecting the Reverse Stock Split of 1:9 will facilitate compliance with the Minimum Bid Requirements This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. About Premium Catering (Holdings) Limited Premium Catering (Holdings) Limited is a certified Halal food caterer specializing in Indian, Bangladesh and Chinese cuisine and has over 11 years of experience in the catering services industry in Singapore. The Group primarily supplies budget prepared meals to foreign construction workers in Singapore. In addition, the Group operates food stalls and provides buffet catering services for private functions as well as ancillary delivery services. Since 2019, the Group has introduced smart incubators where prepared meals are placed in them for collection by the customer. The smart incubators are the Company's custom-made compartmentalized, heated and insulated food vending lockers which are used to deliver budget prepared meals to customers in a secured, hygienic, contactless manner at a pre-set temperature. Safe Harbor Statement This press release contains forward-looking statements that reflect our current expectations and views of future events. Known and unknown risks, uncertainties and other factors, including those listed under 'Risk Factors,' may cause our actual results, performance or achievements to be materially different from those expressed or implied by the forward-looking statements. You can identify some of these forward-looking statements by words or phrases such as 'may,' 'will,' 'expect,' 'anticipate,' 'aim,' 'estimate,' 'intend,' 'plan,' 'believe,' 'is/are likely to,' 'potential,' 'continue' or other similar expressions. We have based these forward-looking statements largely on our current expectations and projections about future events that we believe may affect our financial condition, results of operations, business strategy and financial needs. These forward-looking statements involve various risks and uncertainties. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. We qualify all of our forward-looking statements by these cautionary statements. Contact:Sarah LohThe Chief Financial OfficerTelephone +65-67901488IR@
