ANDOVER, Mass., April 23, 2021 /PRNewswire/ — Byrna Applied sciences Inc. (OTCQB: BYRN) (CSE: BYRN) (“Byrna” or “the Firm”) at the moment publicizes that the Firm’s Board of Administrators has decided to finish a reverse inventory break up (additionally known as a consolidation) of the Firm’s issued shares of widespread inventory on the premise of 1 (1) post-consolidation widespread share for each ten (10) pre-consolidation shares of widespread inventory (the “consolidation” or the “reverse inventory break up”).
The Board of Administrators decided the reverse inventory break up is important to ensure that the Firm to satisfy sure necessities for itemizing on a nationwide alternate.
“This reverse break up is a crucial step in our development,” acknowledged CEO Bryan Ganz. “Itemizing our shares on a nationwide alternate will present Byrna with better publicity and visibility to the market, and supply buyers with better liquidity and finally, we imagine, better shareholder worth.”
Efficient April 27, 2021, with a file date April 28, 2021, the Firm expects to start buying and selling the shares on the Canadian Securities Change and the OTCQB on a post-consolidation foundation below its present identify and ticker image. The brand new CUSIP and ISIN for the Shares are 12448X 201 and US12448X2018, respectively.
The Firm presently has 205,629,938 shares of widespread inventory issued and excellent shares of widespread inventory and on completion of the reverse inventory break up there are anticipated to be 20,562,993 issued and excellent shares of widespread inventory (assuming there aren’t any issuances of shares upon the train of convertible securities). The Firm pays stockholders entitled to fractional shares truthful worth in money in lieu of issuing fractional shares. The Firm won’t change its identify or ticker image in reference to the reverse inventory break up.
Stockholder approval of the reverse inventory break up was obtained on the Firm’s annual and particular assembly held on November 19, 2020.
A letter of transmittal will likely be mailed to registered stockholders offering directions to give up the certificates evidencing the pre-consolidation shares held in alternate for alternative certificates or Direct Registration Recommendation representing the variety of post-consolidation shares to which they’re entitled because of the reverse inventory break up. Till surrendered, every certificates representing pre-consolidation shares will likely be deemed for all functions to signify the variety of entire post-consolidation shares to which the holder thereof is entitled due to the reverse inventory break up. Stockholders who maintain their pre-consolidation shares in brokerage accounts or in “avenue identify” are usually not required to take any motion to give up or alternate the pre-consolidation shares so held.
About Byrna Applied sciences Inc.
Byrna is a expertise firm, specializing within the growth, manufacture, and sale of progressive non-lethal options. For extra data on the Firm, please go to the company web site here or the Firm’s investor relations website here. The Firm is the producer of the Byrna® HD private safety machine, a state-of-the-art handheld CO2 powered launcher designed to supply a non-lethal different to a firearm for the buyer, personal safety, and regulation enforcement markets. To buy Byrna® merchandise go to the Firm’s e-commerce store.
Ahead Trying Info
This information launch comprises “forward-looking statements” throughout the which means of the U.S. and Canadian securities legal guidelines. All statements contained on this information launch, aside from statements of present and historic reality, are forward-looking. Typically, however not all the time, forward-looking statements may be recognized by way of phrases resembling “plans”, “expects”, “tasks”, “intends”, “anticipates” and “believes” and statements that sure actions, occasions or outcomes “might”, “may”, “would”, “ought to”, “may,” “happen” or “be achieved” or “will likely be taken.” Ahead-looking statements embrace descriptions of presently occurring issues which can proceed sooner or later. Ahead-looking statements on this information launch embrace however are usually not restricted to the phrases of the reverse inventory break up, the date the shares will start buying and selling on the Canadian Securities Change and OTCQB on a post-consolidation foundation, the file date of the reverse inventory break up, regulatory approvals in reference to the reverse inventory break up, the itemizing of the shares on a nationwide alternate, and the impact of such itemizing in the marketplace for the Firm’s securities, liquidity, future shareholder worth, and the mechanics of alternative of stockholder certificates. Ahead-looking statements are based mostly on, amongst different issues, opinions, assumptions, estimates and analyses that, whereas thought-about affordable by the Firm on the date the forward-looking data is supplied, inherently are topic to important dangers, uncertainties, contingencies and different elements which will trigger precise outcomes and occasions to be materially totally different from these expressed or implied.
Any variety of danger elements may have an effect on anticipated occasions and outcomes and trigger them to vary materially from these expressed or implied by the forward-looking statements on this information launch, together with, however not restricted to, completion of administrative or regulatory steps and approvals in the time-frame anticipated or in any respect, a few of that are out of the Firm’s management, future monetary outcomes or business-related issues or civil, political or market occasions which may have an effect on the timing or completion of an uplist, different occasions that might negatively have an effect on the Firm’s enterprise, monetary outcomes, or the market in its securities or the inventory market typically, and subsequently influence the marketplace for the Firm’s inventory or future shareholder liquidity and worth. The order by which these elements seem shouldn’t be construed to point their relative significance or precedence. We warning that every one dangers can’t be anticipated and any record of dangers is probably not exhaustive, accordingly, any forward-looking statements contained herein shouldn’t be relied upon as a prediction of precise outcomes. Buyers ought to rigorously take into account these and different related elements, together with these danger elements in Half I, Merchandise 1A in our most up-to-date Kind 10-Okay and subsequent filings with the Securities and Change Fee (“SEC”), and shouldn’t place undue reliance on forward-looking data. The Firm assumes no obligation to replace or revise any forward-looking data, besides as required by relevant regulation.
SOURCE Byrna Applied sciences Inc.