IZEA Prepares for Uplisting to Trade on NASDAQ
IZEA, INC. Financials EDGAR Online Financials 14 days ago
IZEA, INC. Files SEC form 8-K, Results of Operations and Financial Condition, Financial Statements and Exhibits EDGAR Online 1 mth 5 days ago
ORLANDO, FL--(Marketwired - December 22, 2015) - IZEA, Inc. (IZEA), operator of the premiere online marketplace that connects brands and publishers with influential content creators, announced today that it plans to effect a reverse stock split of its outstanding shares of common stock in order to satisfy the minimum bid price level of $4.00 per share required to uplist its shares for trading on NASDAQ. The Company filed an initial listing application with NASDAQ earlier this year and believes that it currently meets all other financial, liquidity and corporate governance requirements for initial listing on the NASDAQ Capital Market.
The Company anticipates that after the reverse and maintaining a price above the required minimum bid price for a period of time as prescribed by NASDAQ, it will begin trading on the NASDAQ Capital Market in January 2016.
"It is our belief that uplisting to a national securities exchange will allow a broader base of worldwide institutions, investment funds and retail investors to participate in our future growth," said Ted Murphy, IZEA's Chairman and Chief Executive Officer. "When definitively approved, this will be a big milestone for our company and another important step towards achieving our long term goals."
The company has already received shareholder approval for its reverse stock split. The ratio of the split will be determined and announced by IZEA's Board of Directors in early January.
IZEA operates the premiere online marketplace that connects brands with influential content creators. IZEA creators range from leading bloggers and social media personalities to A-List celebrities and professional journalists. Creators are compensated for developing and distributing unique content on behalf of brands including long form text, videos, photos and status updates. Brands receive influential consumer content and engaging, shareable stories that drive awareness. For more information about IZEA, visit http://corp.izea.com
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934. Statements in this press release that are forward-looking include IZEA's anticipated uplisting of its shares to trade on NASDAQ in January 2016. These forward-looking statements are based largely on IZEA's current expectations and are subject to a number of risks and uncertainties, certain of which are beyond IZEA's control. Actual results could differ materially from these forward-looking statements as a result of, among other factors, the potential volatility of IZEA's stock price due to competitive conditions in the social sponsorship segment in which IZEA operates, failure to popularize one or more of the marketplace platforms of IZEA, difficulties in integrating platforms and operations and achieving the expected benefits from future acquisitions, and changing economic conditions that are less favorable than expected. In light of these risks and uncertainties, there can be no assurance that the forward-looking information contained in this press release will in fact occur. Please read the full statement and disclosures here: http://corp.izea.com/safe-harbor-statement
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