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Blue Star Foods To Effect A 1-For-50 Reverse Stock Split, Will Begin Trading On A Split-adjusted Basis When The Market Opens On May 20, 2024

Author: Benzinga Newsdesk | May 15, 2024 12:01pm

Blue Star Foods Corp., ("Blue Star," the "Company," "we," "our" or "us") (NASDAQ: BSFC), an integrated Environmental, Social, and Governance (ESG) sustainable seafood company with a focus on Recirculatory Aquaculture Systems (RAS), today announced that it will effect a 1-for-50 reverse stock split ("Reverse Stock Split") of its authorized and issued and outstanding shares of Class A common stock, par value $0.0001 per share ("Common Stock"). The Reverse Stock Split will become effective at 12:01am, Eastern Time, on May 20, 2024. At such time, each 50 shares of issued and outstanding Common Stock will automatically be reclassified into one new share of Common Stock. The total number of shares of Common Stock authorized for issuance will remain at 100,000,000 shares. Proportional adjustments will be made to outstanding equity awards, warrants and convertible notes, and to the number of shares issued and issuable under the Company's stock incentive plans and certain existing agreements. No fractional shares will be issued in connection with the Reverse Stock Split. All fractional shares will be rounded up. The Reverse Stock Split will affect all common stockholders uniformly and will not alter any stockholder's percentage interest in the Company's equity.


Blue Star's Common Stock will continue to trade on The Nasdaq Capital Market ("Nasdaq") under the existing symbol "BSFC" and will begin trading on a split-adjusted basis when the market opens on May 20, 2024. The new CUSIP number for the Common Stock following the Reverse Stock Split will be 09606H309.

Posted In: BSFC



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