![]() This press release includes statements concerning Blue Apron Holdings, Inc. The trading symbol for the Company’s Class A common stock will remain “APRN.” The new CUSIP number for the Company’s Class A common stock following the reverse stock split will be 09523Q 309. The Company anticipates that effects of the reverse stock split will be sufficient for the Company to regain compliance with the NYSE’s continued listing standards as early as June 21, 2023. As previously announced, the Company can regain compliance with the NYSE’s continued listing standards if, as of the last trading day of any calendar month during the six-month cure period beginning on December 21, 2022, the Company’s Class A common stock has a closing share price of at least $1.00 and an average closing share price of at least $1.00 over the prior 30 trading-day period. The reverse stock split is intended to increase the market price per share of the Company’s Class A common stock to ensure the Company regains full compliance with the NYSE share price listing rule and maintains its listing on the NYSE. The reverse stock split will not modify any rights or preferences of the Company’s Class A common stock. Stockholders who hold shares in brokerage accounts should direct any questions concerning the reverse stock split to their brokers all other stockholders may direct questions to the transfer agent, Computershare Trust Company, N.A., who can be reached at (781) 575-2765 or (800) 546-5141. Stockholders of record will be receiving information from Computershare Trust Company, N.A., the Company’s transfer agent, regarding their stock ownership post-split. Holders of the Company’s Class A common stock held in book-entry form or through a bank, broker or other nominee will have their positions automatically adjusted to reflect the reverse stock split, subject to a broker’s particular processes, and do not need to take any action in connection with the reverse stock split. Proportional adjustments will be made to the number of shares of the Company’s Class A common stock issuable upon exercise of the Company’s stock options, performance stock units, restricted stock units and warrants, as well as the applicable exercise price. The reverse stock split will affect all stockholders uniformly and will not alter any stockholder’s percentage interest in the Company’s equity, except to the extent that the reverse stock split would result in a stockholder owning a fractional share. Stockholders who otherwise would be entitled to receive fractional shares will instead be entitled to receive an amount of cash based on the closing price per share of the Class A common stock on the NYSE at the closing of business on the trading day preceding the Effective Time. No fractional shares will be issued in connection with the reverse stock split. Once effective, the reverse stock split will reduce the number of shares of Class A common stock issued and outstanding from approximately 76 million to approximately 6 million. The Company’s Class A common stock will begin trading on a split-adjusted basis on the New York Stock Exchange (NYSE) at the market open on June 8, 2023.Īt the Effective Time, every 12 issued and outstanding shares of the Company’s Class A common stock will be converted automatically into one share of the Company’s Class A common stock without any change in the par value per share. The reverse stock split is expected to be effective after market close on J(Effective Time). Earlier on June 7, 2023, at the Company’s annual meeting of stockholders, the Company’s stockholders approved a reverse stock split of the Company’s Class A common stock at a split ratio of between 1-for-5 and 1-for-20. (NYSE: APRN) today announced that its Board of Directors approved a reverse stock split of the Company’s Class A common stock at a ratio of 1-for-12.
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