| Ticker | Status | Jurisdiction | Filing Date | CP Start | CP End | CP Loss | Deadline |
|---|
| Ticker | Case Name | Status | CP Start | CP End | Deadline | Settlement Amt |
|---|
| Ticker | Name | Date | Analyst Firm | Up/Down | Target ($) | Rating Change | Rating Current |
|---|
Move Aims to Ensure Continued Listing on Nasdaq
BuzzFeed, Inc. (NASDAQ:BZFD) today announced that its Board of Directors and shareholders approved a 1-for-4 reverse stock split of the company's Class A common stock, par value $0.0001 per share, and Class B common stock, par value $0.0001 per share, which will be effective at 12:01am EST on May 6, 2024. BuzzFeed's Class A common stock will continue to be traded on The Nasdaq Capital Market on a split-adjusted basis beginning on May 6, 2024, under the Company's existing trading symbol "BZFD."
The reverse stock split is intended to increase the bid price of the Company's Class A common stock so that BuzzFeed, Inc. can regain compliance with the minimum bid price requirement of $1.00 per share for continued listing on Nasdaq. The new CUSIP number following the reverse stock split will be 12430A300. The Company filed a Certificate of Amendment with the Secretary of State of the State of Delaware on April 26, 2024 to effect the reverse split.
The reverse stock split will affect all stockholders uniformly and will not alter any stockholder's percentage ownership interest in the company, except to the extent that the reverse stock split results in that stockholder owning a fractional share as described in more detail below.
The reverse stock split will reduce the number of shares of Class A common stock issued and outstanding from approximately 140,961,058 to approximately 35,240,370 and the number of shares of Class B common stock issued and outstanding from approximately 5,473,940 to approximately 1,368,493. The total authorized number of shares of common stock will remain the same. No fractional shares will be issued in connection with the reverse stock split. Each stockholder who would otherwise be entitled to receive a fraction of a share of BuzzFeed's common stock will instead receive one whole share of common stock.
Posted In: BZFD
