- Eat & Beyond Global Holdings (EATS) has disclosed plans to consolidate its common shares
- The basis of the consolidation is one post-consolidated share for each seven pre-consolidated shares
- The company’s 56,896,116 shares issued and outstanding will increase to 8,128,116 shares after the consolidation
- In connection with this consolidation, the company will execute a non-brokered private placement of up to 5,000,000 post-consolidation shares at $0.20 per share for gross proceeds of up to $1,000,000
- Eat & Beyond Global Holdings is an investment issuer that invests in plant-based protein companies
- Eat & Beyond Global Holdings Inc. (EATS) was unchanged at C$0.03 at 11:04 ET
Eat & Beyond Global Holdings (EATS) has disclosed plans to consolidate its common shares.
The basis of the consolidation is one post-consolidated share for every seven pre-consolidated shares.
While the proposed consolidation is subject to the approval of the Canadian Securities Exchange, it won’t alter the company’s name and stock symbol.
The company’s 56,896,116 shares issued and outstanding are expected to become 8,128,116 shares after consolidation.
In connection with this consolidation, the company will proceed with a non-brokered private placement of up to 5,000,000 post-consolidation shares at $0.20 per share for gross proceeds of up to $1,000,000.
Closing of the offering is subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals, including the CSE.
All securities issued in connection with the offering will be subject to a statutory four-month hold period.
The company intends to use the proceeds from the offering for general working capital.
Eat & Beyond Global Holdings is an investment issuer that invests in plant-based protein companies and companies developing and commercializing innovative food tech.
Eat & Beyond Global Holdings Inc. (EATS) was unchanged at C$0.03 at 11:04 ET.