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Dolphin Entertainment, Inc. (NASDAQ:DLPN), a leading entertainment marketing and premium content production company, today announced that the company will effect a 1-for-2 reverse split of its issued and outstanding shares of common stock. The reverse stock split will become effective October 16, 2024 at 12:01 a.m. EDT. Shares of the company's common stock will trade on a split-adjusted basis on The NASDAQ Capital Market, as of the opening of trading on Wednesday, October 16, 2024. The new CUSIP number for the Company's common stock will be 25686H 308.
The reverse stock split is being effected as part of the company's plan to regain compliance with the $1.00 minimum bid price continued listing requirement of The NASDAQ Capital Market and to have the additional authorized shares of common stock available to provide additional flexibility regarding the potential use of shares of common stock for business and financial purposes in the future.
Posted In: DLPN
