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Replies to #12990 on Reverse Splits

Buckey

12/16/19 2:24 PM

#12991 RE: flaflyersfan #12990

another company screwing the pooch with bad info. Oddly enough my qiote provider shows me it r/s on Friday also.

GIGA hit daily list today for ex date tomorrow but company issued worng dates in NR. ITS still pre split. I do not see a play here that presplit shares are selling post split as it is still pre split

GIGA-TRONICS INC (U-GIGA) - News Release
Giga-tronics Incorporated Announces Completion of Previously Announced Reverse Split of Common Stock

2019-12-12 19:51 AT - News Release

DUBLIN, Calif., Dec. 12, 2019 (GLOBE NEWSWIRE) -- (OTCQB: GIGA) Giga-tronics Incorporated (the “Company”) announced today that its previously announced 1-for-15 reverse split of its common stock would become effective as of December 12, 2019. Beginning on December 13, 2019, the Company’s common stock will trade on the OTC market on a split-adjusted basis.

As a result of the reverse stock split, the number of shares of common stock outstanding will be reduced by the ratio of 1-for-15 to 2,476,982. The number of authorized shares of the Company’s common stock has been reduced in the same proportion to 13,333,333 shares of common stock. The reverse stock split impacts all holders of the Company’s common stock uniformly and will not impact any shareholder’s percentage ownership interest in the Company; however, no fractional shares will be issued in connection with the reverse stock split, and cash will be paid in lieu of any fractional shares. The reverse stock split also reduces the number of shares of common stock issuable upon the conversion of the Company’s outstanding shares of preferred stock and the exercise of its outstanding stock options and warrants in proportion to the ratio of the reverse stock split and causes a proportionate increase in the conversion and exercise prices of such preferred stock, stock options and warrants.

The Company’s common stock will continue to trade on the OTC under the symbol “GIGA”, although the letter “D” will be added to the end of the trading symbol for approximately 20 trading days after the effective time of the split to designate that it is trading on a post-split basis. The new CUSIP number for the common stock following the reverse stock split is 37517504.

Registered shareholders holding their shares of common stock in book-entry form or through a bank, broker or other nominee do not need to take any action in connection with the reverse stock split. For those shareholders holding physical stock certificates, the Company’s transfer agent, American Stock Transfer & Trust Company, LLC, will send instructions for exchanging those certificates for new certificates representing the post-split number of shares. The transfer agent’s phone number is AST can be reached at