Presurance Holdings Announces 1-for-7 Reverse Stock Split
Presurance Holdings announced a 1-for-7 reverse stock split of its common stock, effective at 5:00 p.m. Eastern Time on June 1. Beginning on June 2, the common stock will trade on The Nasdaq Capital Market on a split adjusted basis. At the Company's annual meeting of stockholders on June 3, 2025, the stockholders approved a proposal to amend the Company's Second Amended and Restated Articles of Incorporation, to effect a reverse split of the Company's outstanding common stock at a ratio in the range of 1-for-2 to 1-for-12 to be determined at the discretion of the Company's Board of Directors, whereby each outstanding 2 to 12 shares would be combined, converted and changed into one share of common stock, to enable the Company to comply with the Nasdaq's continued listing requirements. Subsequently, the Company's Board of Directors approved the reverse split at a ratio of 1-for-7. As a result of the reverse stock split, every 7 shares of the Company's common stock issued and outstanding will be automatically converted into one share of common stock, with no change in the par value per share or authorized number of shares of common stock.
