Liquid Media Group Ltd. effected a 1-for-5 reverse stock split to comply with Nasdaq's $4.00 per share minimum bid price requirement.
Shares of the company's common stock will start trading on a split-adjusted basis when the market opens on Oct. 15. The reverse split does not affect shareholder's percentage ownership in Liquid.
The reverse split lowers the number of Liquid's outstanding common shares to about 1,898,979, from 9,494,898.
There will be about 3,109,200 Liquid common shares outstanding on a post-split basis, once "strategic acquisitions and debt settlements" that were announced on Sept. 25 and Oct. 12 have been completed.
Liquid's split-adjusted shares of common stock will remain trading under the company's existing symbol, YVR, on the Nasdaq Capital Market. Post reverse split, the new CUSIP number for Liquid's common stock will be 53634Q204.