View Inc. board approves 60-for-1 reverse stock split

View Inc. announced that its Board of Directors has approved a reverse stock split of the Company’s Class A common stock at a ratio of 60-for-1. The reverse stock split was previously approved by the Company’s stockholders at the Company’s 2023 annual meeting held on July 25, 2023. The market effective date of the reverse stock split, as of the opening of business, will be July 27, 2023. Once effective, the reverse stock split will reduce the number of shares of the Company’s Class A common stock issued and outstanding, from approximately 242.4 million to approximately 4.0 million. The objective of the reverse stock split is to ensure that View regains full compliance with the Nasdaq Stock Market’s share price listing rule and maintains its listing on Nasdaq. As previously announced, View will regain compliance with Nasdaq’s per share price listing rule if the bid price for the Company’s common stock closes at $1.00 per share or more for a minimum of 10 consecutive business days during the compliance period ending August 14, 2023.