The Real Good Food Company, Inc.(RGF), a health and wellness frozen and refrigerated foods company, announced that its Board of Directors has approved a 12-to-1 reverse stock split of its Class A and Class B common stock, effective January 3, 2025.
Beginning on January 6, 2025, the company's Class A common stock will trade on a split-adjusted basis under the ticker symbol "RGF," with a new CUSIP number 75601G 307.
The reverse stock split was approved by stockholders on December 20, 2024, to help the company comply with Nasdaq's minimum bid price requirement (Nasdaq Listing Rule 5550(a)(2)).
As a result of the reverse stock split, every 12 shares of the company's outstanding Class A and Class B common stock, par value $0.0001, will be combined into one share.
Stockholders will retain the same percentage of ownership, with fractional shares rounded up to the nearest whole share. The split affects all holders of common stock uniformly.
The company's transfer agent, Equinity Trust Company LLC, will serve as the exchange agent, and stockholders who hold shares in brokerage accounts will have their positions automatically adjusted.
RGF closed Tuesday's (Dec. 31, 2024) trading at $0.38, up 19.54%. In premarket trading, the stock is up 14.18% at $0.43.
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