Collective Audience issues shares to Logiq for special dividend distribution

Collective Audience has issued 3,762,000 of its common stock to Logiq in connection with the business combination involving Logiq’s now former subsidiary, DLQ, Inc., and Abri SPAC I. The newly combined company was renamed Collective Audience, Inc. Abri, which as previously traded on Nasdaq as ASPA, ASPAW and ASPAU, announced the completion of the business combination on November 2, 2023. On the same day, Logiq declared a special dividend distribution of the 3,762,000 shares of Collective Audience common stock to Logiq stockholders of record as of the dividend record date. The dividend will be distributed at a ratio of 0.027 shares of Collective Audience common stock per each one share of Logiq common stock. Logiq reports that the dividend distribution process has begun, but no dividend of Collective Audience common stock has been issued or delivered to Logiq shareholders as of today’s date. Logiq has indicated that the actual delivery date and receipt of the dividend by shareholders may be delayed in some instances due to administrative factors and timing may vary depending upon the number of Logiq shares held on the record date, where they were being held, as well as other factors. Logiq announced that it has received reports that certain brokerage firms have prematurely or erroneously credited their client’s accounts with the dividend distribution of the Collective Audience shares. Further, some of these firms have facilitated the sale of the shares without having the actual shares in their possession, to the potential detriment of all shareholders including those at other brokerage firms who are adhering to well established regulatory policies and procedures. Logiq expects any such sales of Collective Audience shares could result in a failure to deliver upon the trade settlement date. Logiq states it is investigating the matter and that it plans to pursue all corrective measures and remedies, legal or otherwise, as appropriate. To be clear, according to Logiq, no dividend shares have yet been delivered to any holders of record of Logiq that are entitled to receive such dividend distribution of shares as described in Logiq’s filings with the U.S. Securities and Exchange Commission.