$CETX ON NEWS Cemtrex Common Stock Reverse Split is Effective on June 13, 2019
LONG ISLAND CITY, N.Y.--(BUSINESS WIRE)--
Cemtrex Inc. (Nasdaq: CETX, CETXP, CETXW), a leading global technology company, today announced that previously announced 6:1 reverse split of its outstanding common shares has been changed by the Company’s board of directors to 8:1, effective at 9:00 a.m., EDT, on June 13, 2019.
The Company’s board of directors changed the reverse stock split ratio to ensure that the Company shall meet with NASDAQ’s compliance requirement for maintaining its common stock on the exchange. The Company's common stock will continue to trade under the symbol "CETX". Upon the effectiveness of the reverse stock split, every eight shares of issued and outstanding common stock before the open of business on June 13, 2019 will be combined into one issued and outstanding share of common stock, with no change in par value per share. The Company's common stock will open for trading on Nasdaq on June 13, 2019 on a post-split basis.
The reverse stock split will affect all issued and outstanding shares of the Company's common shares, as well as the number of shares of common shares available for issuance under the Company's stock options and warrants (CETXW). In addition, the reverse stock split will reduce the number of shares of common shares issuable upon the exercise of stock options or warrants outstanding immediately prior to the reverse split and correspondingly increase the respective exercise prices. The reverse stock split will affect all shareholders uniformly and will not alter any shareholder's percentage interest in the Company's equity.
Shareholders with questions may contact Clear Trust, LLC the Company's transfer agent by calling 813-235-4490.
About Cemtrex
Cemtrex, Inc. (CETX) is a diversified technology company that's driving innovation in a wide range of sectors, including smart technology, virtual and augmented realities, advanced electronic systems, industrial solutions, and intelligent security systems.
www.cemtrex.com
LONG ISLAND CITY, N.Y.--(BUSINESS WIRE)--
Cemtrex Inc. (Nasdaq: CETX, CETXP, CETXW), a leading global technology company, today announced that previously announced 6:1 reverse split of its outstanding common shares has been changed by the Company’s board of directors to 8:1, effective at 9:00 a.m., EDT, on June 13, 2019.
The Company’s board of directors changed the reverse stock split ratio to ensure that the Company shall meet with NASDAQ’s compliance requirement for maintaining its common stock on the exchange. The Company's common stock will continue to trade under the symbol "CETX". Upon the effectiveness of the reverse stock split, every eight shares of issued and outstanding common stock before the open of business on June 13, 2019 will be combined into one issued and outstanding share of common stock, with no change in par value per share. The Company's common stock will open for trading on Nasdaq on June 13, 2019 on a post-split basis.
The reverse stock split will affect all issued and outstanding shares of the Company's common shares, as well as the number of shares of common shares available for issuance under the Company's stock options and warrants (CETXW). In addition, the reverse stock split will reduce the number of shares of common shares issuable upon the exercise of stock options or warrants outstanding immediately prior to the reverse split and correspondingly increase the respective exercise prices. The reverse stock split will affect all shareholders uniformly and will not alter any shareholder's percentage interest in the Company's equity.
Shareholders with questions may contact Clear Trust, LLC the Company's transfer agent by calling 813-235-4490.
About Cemtrex
Cemtrex, Inc. (CETX) is a diversified technology company that's driving innovation in a wide range of sectors, including smart technology, virtual and augmented realities, advanced electronic systems, industrial solutions, and intelligent security systems.
www.cemtrex.com
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