Replies to post #4944181 on BB's Stock Haven

[stock1ace1]

Cnxa short squeeze watch @.13 !

Connexa Sports Technologies Inc. (NASDAQ: CNXA) (www.connexasports.com) (the “Company”) announced that it will conduct a reverse stock split of its outstanding shares of common stock at a ratio of 1-for-40. The reverse stock split will become effective on September 22, 2023. The Company’s common stock will begin trading on a post-split basis at the market open on September 25, 2023, under the Company’s existing trading symbol "CNXA", with the new CUSIP number, 831445309. The reverse stock split is part of the Company’s plan to regain compliance with the minimum bid price requirement of $1.00 per share required to maintain continued listing on The Nasdaq Capital Market, among other benefits.
The reverse stock split was approved by the Company’s stockholders at the Company’s Special Meeting of Stockholders held on September 13, 2023, to be effected in the discretion of the Company’s board of directors within approved parameters. The final ratio was approved by the Company’s board of directors on September 13, 2023.

The reverse stock split reduces the number of shares of the Company’s outstanding common stock from approximately 29.5 million shares to approximately 740,000 shares. As a result of the reverse stock split, proportionate adjustments will be made to the number of shares of the Company’s common stock underlying the Company’s outstanding equity awards and warrants and the number of shares issuable under the Company’s equity incentive plans and other existing agreements, as well as the exercise or conversion price, as applicable. There will be no change to the number of authorized shares or the par value per share of the Company’s common stock.