BALLERUP, Denmark, May 25, 2023
/PRNewswire/ -- LiqTech International, Inc. (NASDAQ:LIQT), a clean
technology company that manufactures and markets highly specialized
filtration products and systems, today announced that the company
will effect a 1-for-8 reverse split of its issued and outstanding
shares of common stock. The reverse stock split will become
effective May 26, 2023 at
12:01 a.m. PDT. Shares of the
company's common stock will trade on a split-adjusted basis on The
NASDAQ Capital Market, as of the opening of trading on Friday, May 26, 2023. The new CUSIP number for
the Company's common stock will be 53632A 300.
The reverse stock split is being affected as part of the
company's plan to regain compliance with the $1.00 minimum bid price continued listing
requirement of The NASDAQ Capital Market.
When the reverse stock split becomes effective, every eight
shares of LiqTech International's common stock will be
automatically combined into one new share of common stock. No
fractional shares will be issued, and no cash or other
consideration will be paid. Instead, the company will issue one
whole share of the post-split common stock to any stockholder of
record who otherwise would have received a fractional share as a
result of the reverse stock split.
The reverse stock split will reduce the number of shares of
outstanding common stock from approximately 45.3 million shares to
approximately 6.0 million shares.
LiqTech International's transfer agent is Securities Transfer
Corporation. Stockholders holding paper certificates representing
pre-split holdings can contact our transfer agent by calling (469)
633-0101 for the procedure to exchange existing stock certificates
for new stock certificates or book-entry shares. Certificates
representing pre-split holdings will be deemed to represent the
stockholder's past split holdings until the stockholder presents
the certificate to the transfer agent. Stockholders who are
holding their shares in electronic form at their brokerage firms do
not have to take any action as the effects of the reverse stock
split will automatically be reflected in their brokerage
accounts.
About LiqTech International, Inc.
LiqTech
International, Inc., a Nevada
corporation, is a clean technology company that provides
state-of-the-art ceramic silicon carbide filtration technologies
for gas and liquid purification. LiqTech's silicon carbide
membranes are designed to be used in the most challenging water
purification applications, and its silicon carbide filters are used
to control diesel exhaust soot emissions. Applying
nanotechnology, LiqTech develops products using its proprietary
silicon carbide technology, resulting in a wide range of component
membranes, membrane systems, and filters for both microfiltration
and ultrafiltration applications. By incorporating LiqTech's
SiC liquid membrane technology with the Company´s extensive
systems design experience and capabilities, LiqTech offers unique,
turnkey solutions for the most difficult water purification
applications.
This press release contains "forward-looking statements."
Although the forward-looking statements in this release reflect the
good-faith judgment of management, forward-looking statements are
inherently subject to known and unknown risks and uncertainties
that may cause actual results to be materially different from those
discussed in these forward-looking statements. Readers are urged to
carefully review and consider the various disclosures made by us in
the reports filed with the Securities and Exchange Commission,
including the risk factors that attempt to advise interested
parties of the risks that may affect our business, financial
condition, results of operation, and cash flows. If one or more of
these risks or uncertainties materialize, or if the underlying
assumptions prove incorrect, our actual results may vary materially
from those expected or projected. Readers are urged not to place
undue reliance on these forward-looking statements, which speak
only as of the date of this release. We assume no obligation to
update any forward-looking statements in order to reflect any event
or circumstance that may arise after the date of this release.
Company
Contact:
|
Investor
Contact:
|
Simon Stadil, Chief
Financial Officer
|
Robert Blum
|
LiqTech
International
|
Lytham Partners,
LLC
|
Phone: +45 3140
9128
|
Phone: (602)
889-9700
|
sst@liqtech.com
|
liqt@lythampartners.com
|
View original content to download
multimedia:https://www.prnewswire.com/news-releases/liqtech-international-announces-1-for-8-reverse-stock-split-301834767.html
SOURCE LiqTech International, Inc.