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 to 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 entirely. This clarification aims to address shareholder concerns and provide transparency regarding the company's strategic plans.
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 reverse stock split is part of a broader effort to meet listing requirements for a national exchange, which could enhance the company's visibility and access to capital markets.
For more details, the full press release is available at https://ibn.fm/DXOVA. Investors can stay updated on the latest news and developments regarding Nightfood Holdings at the company's newsroom at http://ibn.fm/NGTF.
