AgriFORCE Growing Systems Ltd. announces a reverse stock split, effective July 28, 2025, to meet Nasdaq listing requirements.
Quiver AI Summary
AgriFORCE Growing Systems Ltd. has announced a reverse stock split of its common shares, where every nine shares will be combined into one, effective July 28, 2025. This decision, approved by the Board of Directors and shareholders, is aimed at meeting Nasdaq's bid price requirements. As of July 23, 2025, the company had 7,851,398 shares issued and outstanding, which will reduce to approximately 872,377 shares post-split. AgriFORCE is dedicated to leveraging technology and sustainable practices to enhance shareholder value. The release includes forward-looking statements and advises readers to consider potential risks outlined in the company's SEC filings. For more information, interested parties can visit the company's website or contact Investor Relations.
Potential Positives
- The approval of a reverse stock split demonstrates the company's commitment to meeting Nasdaq listing requirements, potentially enhancing its market reputation and stability.
- The reverse stock split will reduce the number of outstanding shares from 7,851,398 to 872,377, which may increase the share price and improve the attractiveness of the stock to institutional investors.
- By consolidating shares, the company may provide a clearer investment narrative, helping to attract new shareholders and improve liquidity in the stock.
Potential Negatives
- The implementation of a reverse stock split can be interpreted as a sign of financial distress, as it is often utilized to meet listing requirements due to a declining stock price.
- The company is under pressure to comply with Nasdaq Listing Rule 5550(a)(2), which may indicate ongoing challenges in maintaining investor confidence and market value.
FAQ
What is the reason for AgriFORCE's reverse stock split?
The reverse stock split is to comply with Nasdaq Listing Rule 5550(a)(2) for closing bid price requirements.
When will the reverse stock split be effective?
The reverse stock split will be effective on July 28, 2025, at the open of the market.
How many shares will exist after the reverse stock split?
Post reverse split, AgriFORCE will have approximately 872,377 shares outstanding.
What did shareholders approve regarding the reverse stock split?
Shareholders approved the reverse stock split of every nine shares into one share on June 6, 2025.
How can investors follow AgriFORCE updates and news?
Investors can follow AgriFORCE on various social media platforms like X, LinkedIn, Instagram, Facebook, and Truth Social.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
Full Release
VANCOUVER, British Columbia and West Palm Beach, FL, July 24, 2025 (GLOBE NEWSWIRE) -- AgriFORCE Growing Systems Ltd. (“the Company”) (NASDAQ: AGRI) today announced the Company’s Board of Directors has approved a reverse stock split of the Company’s issued and outstanding common shares whereby every nine (9) shares of its outstanding common shares will automatically be combined into one (1) common share. The reverse split was approved by the Company’s shareholders on June 6, 2025 and will be effective as of the commencement of trading on July 28, 2025 at the open of market. As of the close of business on July 23, 2025, we had 7,851,398 shares of stock issued and outstanding. Post reverse split, this would equate to 872,377 shares. The reverse stock split is being implemented for the purpose of complying with the closing bid price requirement set forth in Nasdaq Listing Rule 5550(a)(2).
ABOUT AGRIFORCE
AgriFORCE Growing Systems Ltd. (NASDAQ: AGRI; AGRIW) is a tech company focused on building an integrated platform that combines the best technology, intellectual property, and knowledge to solve an urgent problem – providing the best solutions to help drive value added benefits to our shareholders through use of sustainable technologies. Additional Follow AgriFORCE on Social Media:
- X: @agriforcegs
- LinkedIn: @agriforcegs
- Instagram @agriforcegs
- Facebook @agriforcegs
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Truth Social:
@agriforcegs
Forward-Looking Statements
Statements made in this press release include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are identified by words such as "may," "will," "plan," "should," "expect," "anticipate," "estimate," "continue," and similar expressions. These statements involve risks, uncertainties, and other factors-some of which are beyond the Company's control-that may cause actual results to differ materially from those expressed or implied, including but not limited to our ability to mine Bitcoin profitably and certain geopolitical and other third party risks beyond our control. Readers are cautioned not to place undue reliance on these forward-looking statements and are encouraged to review the Company's periodic filings with the SEC under the heading "Risk Factors" in Forms 10-K, 10-Q, and 8-K. The Company undertakes no obligation to revise or update forward-looking statements due to new information or future developments.
For more information, visit www.agriforcegs.com For Further Information, please Contact: Investor Relations, 1-561-717-1742, [email protected]
SOURCE: AgriFORCE Growing Systems
