Xos says stock to trade on split-adjusted basis beginning on December 7

In a regulatory filing, Xos, Inc. noted that on December 6, the company filed with the Secretary of State of the State of Delaware a Certificate of Amendment to the company’s Certificate of Incorporation to effect a 1-for-30 reverse stock split of the company’s issued and outstanding shares of common stock, effective as of 5:00 p.m. Eastern Time on December 6. A series of alternate amendments to effect the reverse stock split was approved by stockholders at the company’s annual meeting of stockholders held on May 31, and the specific 1-for-30 ratio was subsequently approved by its board of directors. Beginning with the opening of trading on December 7, the company’s common stock will trade on the Nasdaq Capital Market on a split-adjusted basis under the new CUSIP number 98423B 306 and will continue to trade under the symbol “XOS.” The company’s publicly traded warrants will continue to trade on Nasdaq under the symbol “XOSWW” and the CUSIP number for the warrants will remain unchanged. As a result of the reverse stock split, every 30 shares of common stock issued and outstanding will be automatically combined and converted into one share of common stock. No fractional shares will be issued in connection with the reverse stock split, the filing noted.