Vislink Technologies (VISL) Announces 1-for-6 Reverse Stock Split
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Vislink Technologies, Inc. (“Vislink”) (Nasdaq: VISL), whose brands are recognized as the global leaders in live video communications, announced that its Board of Directors has approved a 1-for-6 reverse stock split (the “Reverse Stock Split”) of its common stock (the “Common Stock”) that will become effective at 5 p.m. ET on July 31, 2020. The Common Stock will begin trading on a split-adjusted basis upon market opening on Monday, August 3, 2020 under the new CUSIP number 92836Y 300.
Mickey Miller, CEO of Vislink, commented, “We have made significant progress in the operational turnaround effort with the addition of new senior leadership, a revamp of our Board and operational improvements that enhance our profitability.” Miller further commented, “Given the progress we have had in our operational turnaround, this reverse split is a natural next step in maintaining our listing on Nasdaq and enabling continued access to capital for growth and strategic initiatives. We look forward to sharing our progress with investors on our Q2 earnings call.”
Information to Stockholders
Continental Stock Transfer & Trust Company is acting as exchange agent for the Reverse Stock Split and will send instructions to stockholders of record who hold stock certificates regarding the exchange of certificates for Common Stock. Stockholders who hold their shares of Common Stock in brokerage accounts or “street name” are not required to take any action to effect the exchange of their shares following the Reverse Stock Split. Continental Stock Transfer & Trust Company may be reached for questions at (212) 509-4000.
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