Mobivity Holdings Corp. (OTC: MFON) has announced a 1-for-6 reverse stock split of issued Mobivity common stock.
Mobivity common stock will begin trading on a split-adjusted basis on the OTC market at the opening of trading on November 13, 2013.
The reverse stock split will affect all shares of the company´s common stock outstanding immediately prior to the effective time of the reverse stock split, as well as the number of shares of common stock available for issuance under the company´s equity incentive plans. In addition, the reverse stock split will effect a reduction in the number of shares of common stock issuable upon the exercise of stock options or warrants outstanding immediately prior to the effectiveness of the reverse stock split, with a proportional increase in the exercise price. No fractional shares will be issued as a result of the reverse stock split. In lieu of issuing fractional shares, the company will round up to one whole share of common stock in the event a stockholder would be entitled to receive a fractional share of common stock.
Mobivity is an award-winning provider of a suite of patented mobile marketing technologies that drive sales, enhance customer engagement, and reward customer loyalty for local businesses and national brands. For more information, visit www.mobivity.com.