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Solo Brands , Inc. (OTC:DTCB) implemented a 1-for-40 reverse stock split of its Class A and Class B common stock, effective as of 5:00 p.m. Eastern time on Tuesday. The move follows approval by shareholders at the company’s annual meeting on May 23, 2025, and subsequent approval by the board of directors.
As a result of the reverse split, every forty shares of Solo Brands’ common stock issued and outstanding prior to the effective time have been automatically reclassified into one share of the respective class. Stockholders entitled to fractional shares will receive a cash payment instead, as outlined in the company’s proxy statement filed on April 21, 2025.
Shares of the company’s Class A common stock are currently quoted on the OTC Pink Market and are expected to begin trading on a split-adjusted basis at market open on or about Wednesday.
Solo Brands stated that the reverse split is part of its efforts to regain compliance with New York Stock Exchange (NYSE) listing standards. Trading of the company’s Class A common stock was suspended from the NYSE on April 22, 2025, and the company formally appealed the NYSE’s decision to delist the shares on May 6, 2025. During the appeal period, the shares remain listed on the NYSE, but trading is suspended. There is no assurance that trading on the NYSE will resume or that the company will remain listed.
This information is based on a press release statement contained in the company’s filing with the U.S. Securities and Exchange Commission.
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