Electrovaya announces it intends to proceed with a reverse split of its issued and outstanding common stock at a ratio of 1 consolidated for 5 pre-consolidated shares. The Company is initiating the reverse stock split in connection with its intention to meet the minimum bid price requirement and list the Company’s common stock for trading on the Nasdaq Capital Market. The Company is working towards meeting all applicable listing standards. The Company’s common stock is currently listed and posted for trading on the TSX under the trading symbol “EFL”, and trades on the OTCQB under the symbol “EFLVF“. The Company’s trading symbol on TSX will also be changed to “ELVA” following the consolidation, which symbol has also been reserved with Nasdaq when and if we list. The post-consolidation common shares are estimated to begin trading on TSX under CUSIP number 28617B606, and under the new ticker symbol, by Friday, June 16th, 2023.
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