Paysafe announces reverse stock split

Paysafe Limited announced that its Board of Directors has approved a consolidation and redesignation of the issued and unissued common shares of par value $0.001, and the unissued undesignated shares, of par value $0.001, at a ratio of 1-for-12, such that after giving effect to the reverse stock split, the authorized share capital of the Company shall be comprised of $22,000,000 divided into 1,600,000,000 common shares of par value $0.012 each and 233,333,333.3 undesignated shares of par value $0.012 each. The reverse stock split will be effective at 4:01 p.m. (ET) on December 12, 2022, and the Common Shares will begin trading on a split-adjusted basis when the New York Stock Exchange opens for trading on Tuesday, December 13, 2022. The Common Shares will continue to trade on the NYSE under the trading symbol "PSFE", but will trade under the following new CUSIP number starting December 13, 2022: G6964L 206. The reverse stock split was approved by Paysafe’s shareholders at the special general meeting of shareholders held on December 8, 2022 with over 95% approval for all proposals.