Nightfood Holdings Inc. (OTCQB: NGTF) has issued a letter to shareholders clarifying its recently filed Preliminary Schedule 14C Information Statement regarding authorization for a potential reverse stock split. The company’s board of directors and majority stockholder have approved authorization for the board to effect a reverse split within a range of 1-for-150 to 1-for-250, in connection with a potential listing on a national securities exchange. The authorization grants the board discretion to determine whether and when to implement a reverse split and select a ratio based on market conditions and the company’s trading price at that time.
Nightfood emphasized that the authorization does not mean a reverse split will necessarily occur and that the board may abandon the action. The move is aimed at meeting listing requirements for a national exchange, which often mandate a minimum share price. For a company trading on the OTCQB, a reverse split can boost the per-share price to meet such thresholds, potentially attracting a broader investor base and improving liquidity.
Nightfood Holdings, doing business as TechForce Robotics, is focused on AI-driven robotics, enterprise automation, hospitality automation, pharmaceutical automation, and advanced-technology commercialization. Through strategic acquisitions, partnerships, and technology-development initiatives, the company is building a diversified automation platform serving multiple high-growth industries. The potential exchange listing could provide greater visibility and access to capital markets, supporting its growth strategy in automation.
For more information, the full press release is available at https://ibn.fm/DXOVA. Additional updates on Nightfood Holdings can be found in the company’s newsroom at http://ibn.fm/NGTF.
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