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iSun, Inc. (NASDAQ:ISUN) (the "Company," or "iSun"), a leading solar energy and clean mobility infrastructure company with 50-years of experience accelerating the adoption of innovative electrical technologies, announced today that its Board of Directors has approved the rescission of the previously announced reverse stock split.
The decision to rescind the reverse stock split was made after careful consideration and analysis of market conditions, and the company's financial performance outlook. The Board of Directors believes that this action is in the best interest of the company and its shareholders.
"We have always prioritized shareholder value and transparency in our decision-making process," said Jeff Peck, CEO of iSun. "After thorough evaluation and discussions with our shareholders, we have determined that rescinding the reverse stock split is the appropriate course of action at this time. We remain committed to executing our strategic initiatives and delivering long-term value to our shareholders."
As a result of the rescission, the reverse stock split that was previously approved will not be implemented, and the company's outstanding shares will remain unaffected by the split.
iSun will continue to focus on its core business objectives. Shareholders and stakeholders can expect regular updates on the company's progress and performance.
Posted In: ISUN
