EzFill announces 1-for-2.5 reverse stock split

EzFill Holdings will effect a 1 for 2.5 reverse stock split of its common stock. EzFill expects its common stock to begin trading on a split-adjusted basis on the Nasdaq Capital Market as of the commencement of trading on July 25, 2024. The reverse stock split was approved by the Board of Directors and shareholders of the Company and is being implemented as part of a plan by the Company to regain compliance with the continued listing requirement under Nasdaq Listing Rule 5550(b)(1), which requires that a listed company’s stockholders’ equity be at least $2,500,000. At the effective time of the reverse stock split, every 2.5 shares of EzFill common stock issued and outstanding will be combined into one share of common stock issued and outstanding. This will reduce the Company’s outstanding common stock from approximately 4.97 million shares to approximately 1.99 million shares. No fractional shares of common stock will be issued as a result of the reverse stock split and instead fractional shares will be rounded up.