AgEagle Aerial Systems Inc (UAVS) has released an update to notify the public and investors about corporate charter and bylaws modifications.
AgEagle Aerial Systems Inc. has implemented a 1-for-20 reverse stock split, effective February 9, 2024, a strategic move approved by the company’s Board and shareholders to bolster the per-share price and maintain NYSE American listing. This consolidation will convert every twenty shares into one, without altering the total authorized shares or affecting shareholders’ relative ownership percentages, except for adjustments to avoid fractional shares. No action is needed from shareholders for this change, as shares held in brokerage accounts will be automatically adjusted.
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For a comprehensive understanding of the announcement, you can read the full document here.