Freight Technologies announces 1-for-25 reverse stock split

Freight Technologies announced today that the board of directors of the company approved a one for twenty-five reverse split of its issued and outstanding ordinary shares, no par value. The company’s Ordinary Shares will begin trading on a split adjusted basis on September 25. The reverse stock split is intended to increase the per share trading price of the Ordinary Shares to satisfy the $1.00 minimum bid price requirement for continued listing on the Nasdaq. Following the reverse stock split the company will have approximately 1.43 million Ordinary Shares issued and outstanding, exclusive of shares issuable under outstanding options and warrants.