Innovation Beverage (IBG) announced that it will effect a five-for-one reverse stock split of its ordinary shares. The reverse stock split will become effective at 12:01 a.m. Eastern Time on January 30 and the company’s ordinary shares will begin trading on a split-adjusted basis when the market opens on January 30. As of January 28, the company had 3,470,331 ordinary shares issued and outstanding. Following the reverse stock split, there will be 694,066 ordinary shares issued and outstanding, the company noted.
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