CDTi Announces Effective Date of Reverse Stock Split
21 Septiembre 2018 - 5:14PM
CDTi Advanced Materials, Inc. (NASDAQ: CDTI) (“CDTi” or “the
Company”), a leader in advanced emission control technology,
announced the expected effective date of its 1-for-5 reverse stock
split. Stockholders granted the Board of Directors discretionary
authority to effect the reverse split at the Company’s annual
meeting of stockholders held on August 24, 2018.
CDTi anticipates the reverse split to be effective after the
close of trading on NASDAQ on Friday, September 21, 2018 (the
“Effective Date”), and for the common stock to continue trading on
NASDAQ under the trading symbol “CDTI” under new CUSIP number
12514V204 on a split-adjusted basis commencing at the open of
trading on Monday, September 24, 2018. The reverse split will
reduce the number of outstanding shares of CDTi common stock from
approximately 20 million shares to approximately 4 million
shares. Correspondingly, the trading price of CDTi common stock is
expected to proportionately increase immediately following the
Effective Date.
The Company will not issue any fractional shares resulting from
the reverse split. Instead, any stockholder who would otherwise be
entitled to less than one full share of CDTi common stock will
receive a cash payment for such fractional share at a rate equal to
the average of the closing prices per share of CDTi common stock on
NASDAQ over the five trading days immediately preceding the
Effective Date.
Additional information on the reverse stock split can be found
in the Company’s definitive proxy statement filed with the SEC on
July 9, 2018, which is available on the Company’s website at
www.cdti.com.
About CDTi Advanced MaterialsCDTi develops
advanced materials technology for the emissions control market.
CDTi’s proprietary technologies provide high-value sustainable
solutions to reduce hazardous emissions, increase energy efficiency
and lower the carbon intensity of on- and off-road combustion
engine systems. With a continuing focus on innovation-driven
commercialization and global expansion, CDTi’s breakthrough
Powder-to-Coat (P2C™) technology exploits the Company’s
high-performance, advanced low-platinum group metal (PGM) emission
reduction catalysts. Key technology platforms include Synergized
PGM (SPGM™) and Spinel™. For more information, please visit
www.cdti.com.
Forward-Looking StatementsCertain information
contained in this press release constitutes forward-looking
statements, including any statements that are not statements of
historical fact. You can identify these forward-looking statements
by the use of the words “believes”, “expects”, “anticipates”,
“plans”, “may”, “will”, “would”, “intends”, “estimates”, and other
similar expressions, whether in the negative or affirmative.
Forward-looking statements are based on a series of expectations,
assumptions, estimates and projections, which involve substantial
uncertainty and risk. In this document, the Company includes
forward-looking statements regarding the effects of the reverse
stock split on the Company’s common stock and trading price.
The actual effects of the reverse stock split may differ materially
from those indicated by such forward-looking statements because of
uncertainties, including, but not limited to, the manner in which
NASDAQ implements the reverse stock split and the trading volume
and market reaction to the reverse stock split when trading
commences after its effectiveness. In addition, any
forward-looking statements represent the Company’s expectations
only as of the date of such statements and should not be relied
upon as representing the Company’s expectations as of any
subsequent date. The Company specifically disclaims any obligation
to update forward-looking statements. All forward-looking
statements in this press release are qualified in their entirety by
this cautionary statement.
Contact Information: Moriah
Shilton or Kirsten ChapmanLHA Investor RelationsPhone: 415-433-3777
Email: cdti@lhai.com
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