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.
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.
