Digital Ally (DGLY) Plans One-for-Eight Reverse Split

August 16, 2012 8:28 AM EDT
Digital Ally, Inc. (Nasdaq: DGLY), announced that it has filed a notice with The Nasdaq Stock Market stating that its Board of Directors has voted to effect a 1-for-8 reverse split of its issued and outstanding common stock. The reverse stock split will be effective August 24, 2012.

The Company is taking such action in order to comply with the minimum closing bid price requirement for continued listing on The Nasdaq Capital Market. In order to remain listed, the closing bid price of the Company's common stock must be $1.00 per share or higher for a minimum of ten consecutive business days prior to September 10, 2012, under applicable Nasdaq rules.

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