Alternus Clean Energy, Inc. announced a 1-for-200 reverse stock split of its common stock.
The reverse stock split will increase the per-share trading price of the Company's common stock.
The Company's common stock will commence trading on the OTCQB Market on a post-split basis.
Purpose of Reverse Stock Split
To increase the per-share trading price and appeal to institutional and long-term investors.
Approval
Approved by the Company's Board of Directors and majority voting capital stock holders on March 21, 2025.
Share Conversion
Each 200 shares will be converted to 1 share without change in par value or total authorized shares.
- The reverse stock split will reduce the Company's number of outstanding common stock shares significantly.
- Stockholders of record will receive information from the transfer agent regarding their share ownership post-split.
Alternus Clean Energy, Inc. aims to enhance its capital markets profile and attract a broader shareholder base through the reverse stock split. The Company's strategic investments in clean energy projects indicate a strong foundation for sustained revenue growth and shareholder value.