ETHZilla announces reverse stock split

ETHZilla (ETHZ) announced that it will conduct a reverse stock split of its outstanding shares of common stock at a ratio of 1-for-10. The Reverse Stock Split is expected to become effective on Oct. 20, with shares expected to begin trading on the Nasdaq Capital Market on a split-adjusted basis at market open on Oct. 20. No change will be made to the trading symbol for the Company’s shares of common stock or public warrants, “ETHZ” and “ETHZW”, respectively, in connection with the reverse split.As part of ETHZilla’s effort to significantly expand its engagement with the institutional investor community, the Reverse Stock Split is intended to provide these investors and large financial institutions with access to collateral and margin availability associated with stock prices greater than $10.00.