COMSovereign Holding announces 1-for-100 reverse stock split

COMSovereign Holding announced that its Board of Directors approved a 1-for-100 reverse stock split of its common stock shares and that the common stock shares will begin trading on a split-adjusted basis at the commencement of trading today, January 10. The common stock shares will trade on the Nasdaq Capital Market under the same symbol "COMS" with a new CUSIP number, 205650401. COMSovereign expects that the reverse stock split, which was approved by shareholders at its shareholder meeting on February 8, will increase the market price per share of the Company’s common stock, bringing the Company into compliance with The Nasdaq Capital Market’s $1.00 minimum bid price requirement. The company intends to continue to pursue additional actions to satisfy the exchange’s listing requirement including the filing of its 10-Q for the quarter ended September 31, 2022 before the end of February.