Direct Digital announces reverse stock split

Direct Digital (DRCT) Holdings announced a 4-to-1 reverse stock split of all classes of its common stock. The company expects the Class A common stock to begin trading on a split-adjusted basis on The Nasdaq Stock Market as of the commencement of trading on April 27. The reverse stock split is intended to allow the company to maintain compliance with Nasdaq’s minimum bid price requirement of $1.00 per share. The company’s Class A common stock will continue to trade on Nasdaq under the symbol “DRCT.” The new CUSIP number for the Class A common stock following the reverse split is 25461T303.