SoFi CEO enters prepaid forward contract on 1.5 million shares
Damon Inc. (OTC:DMNIF), a company in the motorcycles, bicycles, and parts sector, implemented a 1-for-125 reverse stock split of its outstanding common shares on July 3, as approved by its board of directors. The reverse split, confirmed by FINRA and announced on its Daily List on July 2, reduced the number of outstanding common shares from 2,450,477,042 to 19,603,815.
Following the reverse split, Damon Inc.’s common shares are being traded under the temporary symbol "DMNID" on the OTCID Basic Market, operated by OTC Markets Group Inc. The symbol will revert to "DMNIF" after 20 business days. The company’s new CUSIP number is 235750205, and the new ISIN is CA2357502053.
The company stated that no fractional shares have been issued. Any fractional share less than one-half of a share was cancelled, while any equal to or greater than one-half was rounded up to one whole share. Conversion and exercise prices, as well as the number of shares issuable under outstanding exercisable or convertible securities, have been adjusted proportionately to reflect the reverse split.
Damon Inc. also provided updated unaudited selected financial data for Damon Motors Inc. and Grafiti Holding Inc. for the years ended June 30, 2024 and 2023, as well as for Damon Inc. for the three-month period ended September 30, 2024, and for the three- and nine-month periods ended March 31, 2025. These updates reflect the effects of the reverse split and supplement previously filed audited and unaudited financial statements.
Damon Inc.’s common shares were previously listed on the Nasdaq Stock Market LLC under the symbol "DMN," but trading was suspended as of May 20. The shares are now quoted on the OTCID Basic Market under the symbol "DMNIF."
This information is based on a press release statement included in a recent SEC filing.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.