Digihost Technology (TSXV: DGHI) is the latest in a string of Canadian public operators to conduct a reverse split in hopes of a Nasdaq uplisting. The company this morning announced the effective date of its planned share consolidation.
The share consolidation will see the company reduce its shares on a one for three basis, with share holders receiving one new share for every three shares held pre-consolidation. Fractional shares are to be rounded down to the nearest whole share.
The process is expected to reduce the firms current share count down to 25.0 million outstanding shares.
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Consolidation of the firms shares are currently slated to occur as of the end of trading tomorrow, with shares to open the market on a consolidated basis on October 28, 2021.
The consolidation is being undertaken in hopes of a Nasdaq listing, with the event enabling the company to meet initial pricing requirements for listing on the US big board.
Digihost Technology last traded at $2.10 on the TSX Venture.
Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
