Blue Hat Interactive Implements 1-for-50 Reverse Stock Split
Blue Hat Interactive reported that it expects to implement a 1-for-50 reverse stock split on its ordinary shares effective Friday, March 6, with trading to begin on a split-adjusted basis at the market open on that day. Before such reverse stock split, as of March 2, the Company has a total of 113,012,000 ordinary shares, par value $0.0000001 per share issued and outstanding. Upon the effectiveness of the reverse stock split, every 50 shares of the company's issued and outstanding ordinary shares, par value $0.0000001 per share will automatically be converted into one issued and outstanding ordinary share, par value $0.000005 per share. No fractional shares will be issued as a result of the reverse stock split. Instead, any fractional shares that would have resulted from the split will be rounded up to the next whole number. The reverse stock split at a ratio of 1-for-50 shares was approved by the company's board of directors and its shareholders.
