Blacboxstocks to effect one-for-four reverse stock split

Blackboxstocks announced that it has filed an amendment to the company’s articles of incorporation with the Nevada Secretary of State to effect the reverse stock split at a split ratio of one-for-four. On March 14, the board of directors of Blackboxstocks unanimously adopted resolutions declaring the advisability of, and recommending that stockholders approve, an amendment to the company’s articles of incorporation to effect a reverse split of the company’s common stock at a ratio of up to one-for-seven. Also on March 14, the stockholders of the company holding a majority in voting power of issued and outstanding common stock, as a class, and all of our issued and outstanding shares of Series A Convertible Preferred Stock, adopted by written consent, resolutions approving the reverse stock split and amendment. On April 7, the board of directors approved a split ratio for the reverse stock split of one-for-four. The amendment to the articles of incorporation take effect on April 10 and the company’s common stock will begin trading on a split-adjusted basis on Nasdaq capital market at the commencement of trading on April 11 under the company’s existing symbol (BLBX). As a result of the reverse stock split, every four shares of the company’s common stock issued and outstanding immediately prior to the effective time will be consolidated into one issued and outstanding share. In addition, proportionate adjustments will be made to the exercise prices of the company’s outstanding stock options and warrants and to the number of shares issued and issuable under the company’s existing stock incentive plans.