Solar3D Completes Reverse Stock Split
Company Takes Key Step in Preparation for Uplisting onto Senior Exchange
SANTA BARBARA, CA--- February 24, 2015 - Solar3D, Inc. (SLTD) (SLTDD), a leading provider of solar solutions and the developer of a proprietary high efficiency solar cell, is pleased to announce that it has effected a 1-for-26 reverse split of its issued and outstanding common stock (the "Reverse Split”) which will be effective February 25, 2015, as a key step in preparation for uplisting of the Company’s common shares onto a senior exchange.
Jim Nelson, CEO of Solar 3D said, “The reverse stock split was implemented to meet the price requirements for uplisting onto a senior exchange. Our Board and shareholders have strongly supported this initiative, as it will help broaden our shareholder base and improve liquidity in our common stock. We look forward to moving quickly towards this goal.”
As of the market open tomorrow, the Company’s shares will trade under the symbol “SLTDD,” with a “D” added for 20 trading days to signify that the reverse stock split has occurred. A new CUSIP number (83417A209) has been assigned to the Company’s common stock as a result of the reverse split.
As a result of the Reverse Split, the total issued and outstanding common shares will be reduced from approximately 381.7 million shares to approximately 14.7 million, subject to adjustment for fractional shares. No fractional shares are to be issued.
Any fractional shares resulting from the reverse stock split will be rounded up to the nearest whole share. The number of shares of common stock underlying the options, warrants, convertible securities or other rights to acquire shares of common stock will be adjusted accordingly.
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