LQR House Announces Effective Date for 1-for-60 Reverse Stock Split as Part of Nasdaq Compliance Plan [Yahoo! Finance]
LQR House Inc. (LQR)
Company Research
Source: Yahoo! Finance
marketing agency specializing in the spirits and beverage industry, today announced that it is implementing a 1-for-60 reverse stock split of its common stock, with an effective date of 12:01 a.m., Eastern Time, on November 30, 2023. In response to a written notification from the Listing Qualifications Staff of the Nasdaq Stock Market, LLC ("Nasdaq") on October 24, 2023, indicating non-compliance with the minimum bid price requirement of $1.00 per share for continued listing on the Nasdaq Capital Market, LQR House's Board of Directors, in conjunction with a unanimous decision from the majority shareholders, has approved the reverse stock split as a strategic measure to address this concern. Upon the reverse stock split taking effect, every sixty issued and outstanding shares of common stock will be consolidated into one share of common stock. The common stock will commence trading on a split-adjusted basis on The Nasdaq Capital Market under a new CUSIP number at the market open on
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