NextPlat to implement 1-for-10 reverse stock split on April 13

NextPlat (NXPL) led an amendment to its amended and restated certicate of incorporation with the Secretary of State of the State of Nevada to effect a one-for-ten reverse stock split of its common stock. The reverse stock split will now take effect at 12:01 am ET on April 13 and the company’s common stock will open for trading on Nasdaq on April 13 on a post-split basis, under the existing ticker symbol “NXPL” but with a new CUSIP number 68557F 308. As a result of the reverse stock split, every 10 shares of the company’s common stock issued and outstanding prior to the opening of trading on April 13 will be consolidated into one issued and outstanding share, with no change in the nominal par value per share of 0.01c. As a result of the reverse stock split, the number of shares of common stock outstanding will be reduced from approximately 26.9M shares to approximately 2.7M shares, and the number of authorized shares of common stock will remain at 50M shares.