Only the Company’s Common Stock will be reverse split. The Company’s Preferred Stock will not be effected by the reverse split.
What is the ratio for the reverse stock split?
1:4000. Therefore, for every 4000 shares of common stock (“old common stock”) of Sylios Corp you own prior to the effective date of the reverse split, you will own one share of common stock (“new common stock”) after the effective date.
What happens if I do not own exactly 4,000 shares?
The Company will round up shares in the reverse split. Therefore, if a shareholder owns 3900 shares prior to the effective date of the reverse stock split, they will receive 1 share of the new common stock. If a shareholder owns 4100 shares, they will receive 2 shares of the new common stock.
When is the Effective Date?
The Company filed an Issuer Company-Related Action Notification form with the Financial Industry Regulatory Authority (“FINRA”) on May 1, 2018 with a proposed effective date of May 16, 2018. FINRA will determine the final date at which the Company will begin trading post-reverse split. On December 7, 2018, the Company filed a new Issuer Company-Related Action Notification Form with the FINRA for the Company’s approved 1:4000 reverse stock split. On December 27, 2018, the Company was notified by FINRA that it had sufficient information to pass on the corporate action. The Company’s common stock began trading on a post-split basis beginning on December 28, 2018 (the “Effective date”). The trading symbol for the Company’s common stock was changed to “UNGSD” for the first twenty business days including the effective date, thereafter the trading symbol reverted back to “UNGS.”
Do I need to contact my broker about the reverse stock split?
No. your broker will receive notification automatically.
Will the stock symbol change?
No. The trading symbol for the Company’s common stock was changed to “UNGSD” for the first twenty business days including the effective date, thereafter the trading symbol reverted back to "UNGS."
Will I be able to sell my shares after the reverse stock split?
Yes. The new common stock will not be restricted.
If I have any questions, who may I contact?
Please contact the Company at email@example.com. We make every effort to respond to all inquiries within one business day.