Leafly Holdings (NASDAQ: LFLY) announced that the 1-for-20 reverse stock split of its common stock, par value $0.0001 became effective on September 12, 2023, at 12:01 a.m. ET. Leafly’s Common Stock will continue trading on the Nasdaq under its existing symbol “LFLY” and will trade on a split-adjusted basis when the market opens on Tuesday.
The new CUSIP number for the Common Stock following the Reverse Stock Split will be 52178J303. The Company’s public warrants will continue trading on the Nasdaq under the existing symbol “LFLYW.”
As a result of the Reverse Stock Split, every 20 shares of Common Stock issued and outstanding will be automatically combined and converted into one issued and outstanding share of common stock. Proportional adjustments will be made to outstanding equity awards, warrants and convertible notes. The stock split will not change the par value of the common stock nor the authorized number of shares of common stock.
The reverse stock split was approved …