Aluf Holdings, Inc. Announces Reverse Stock Split of Common Stock
HOLLYWOOD, Fla., Dec. 18, 2020 /PRNewswire/ -- Aluf Holdings, Inc. ("AHIX") ("the Company") (OTC PINK: AHIX) announced today that a 1-for-1000 reverse stock split will be effective, and reflected in the price of its common stock, on December 21, 2020. The Reverse Split was completed, in part, to meet the initial listing requirements of uplisting to OTCQB and applies to all the outstanding shares of Aluf's common stock, reducing the number of current outstanding shares from 4,008,602,631 to approximately 4,008,600 shares.
Aluf's common stock will trade under the ticker symbol "AHIXD" for a period of 20 business days including the effective date per FINRA requirements. After the conclusion of the 20-business day period, Aluf will resume trading under its previous ticker symbol "AHIX". Common shares will also trade under a new CUSIP number.
As a result of the Reverse Split, every 1000 shares of Aluf's issued and outstanding common stock have been automatically converted into one issued and outstanding share of common stock, par value $0.001 per share. Fractional shares resulting from the Reverse Split have been rounded down to the nearest whole share.
Shareholders are not required to send in their current certificates for exchange. Following the reverse stock split, each stock certificate representing issued and outstanding shares of common stock will represent a fewer number of shares. The Company's shareholders of record will receive a letter of transmittal and instructions from the transfer agent, Broadridge, regarding procedures for submitting their stock certificates in connection with the reverse split. Those shareholders holding common stock in "street name" will receive instructions from their broker if they need to take any action in connection with the reverse split.
About Aluf Holdings, Inc.:
Aluf Holdings, Inc. is a publicly traded holding company whose core competency is to acquire, manage and propel "Next Gen" technology companies into the future. Our focus includes the Biometric, Blockchain, Cybersecurity, Cloud Computing, AI, Computer Vision and Software/Hardware verticals.
For more information go to www.aluf.com
Safe Harbor Statement:
This release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E and/or 27E of the Securities Exchange Act of 1934 that are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties, including statements as to the future performance of the company and the risks and uncertainties detailed from time to time in reports filed by the company with the Securities and Exchange Commission. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Although the company believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectations or any of its forward-looking statements will prove to be correct. Factors that could cause results to differ include, but are not limited to, the company's ability to raise necessary financing, retention of key personnel, timely delivery of inventory from the company's suppliers, timely product development, product acceptance, and the impact of competitive services and products, in addition to general economic risks and uncertainties.
Corporate Contact:
Aluf Holdings, Inc.
Teresa McWilliams
Chief Financial Officer
866-793-1110
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SOURCE Aluf Holdings, Inc.
