Freight Technologies Approves 1-for-25 Reverse Stock Split
Ticker: FRGT · Form: 6-K · Filed: Sep 23, 2024 · CIK: 1687542
Sentiment: neutral
Topics: reverse-split, corporate-action
Related Tickers: FRGT
TL;DR
FRGT doing a 1-for-25 reverse split, effective soon.
AI Summary
Freight Technologies, Inc. announced a 1-for-25 reverse stock split approved by its board of directors on September 12, 2024. This action aims to adjust the number of issued and outstanding ordinary shares.
Why It Matters
A reverse stock split can impact a company's share price and market perception, potentially making it more attractive to institutional investors.
Risk Assessment
Risk Level: medium — Reverse stock splits can sometimes signal underlying financial difficulties or attempts to meet exchange listing requirements, which carries inherent risk.
Key Numbers
- 1-for-25 — Reverse Split Ratio (The company is consolidating shares at this ratio.)
Key Players & Entities
- Freight Technologies, Inc. (company) — Registrant
- September 12, 2024 (date) — Date of board approval for reverse split
- 1-for-25 (reverse_split_ratio) — Ratio of the reverse stock split
- Javier Selgas (person) — Chief Executive Officer
FAQ
What is the primary purpose of the 1-for-25 reverse stock split?
The filing indicates the reverse split was approved by the board of directors to adjust the number of issued and outstanding ordinary shares.
When was the reverse stock split approved?
The board of directors approved the 1-for-25 reverse split on September 12, 2024.
What is the company's ticker symbol?
While not explicitly stated in the provided text, the filing is for Freight Technologies, Inc., and related filings often use ticker symbols like FRGT.
What was the company formerly known as?
The company was formerly known as Hudson Capital Inc. (name change effective May 7, 2020) and China Internet Nationwide Financial Services, Inc. (name change effective October 14, 2016).
Where is Freight Technologies, Inc. headquartered?
The company's principal executive office is located at 2001 Timberloch Place, Suite 500, The Woodlands, TX 77380.
Filing Stats: 504 words · 2 min read · ~2 pages · Grade level 12.1 · Accepted 2024-09-23 09:00:15
Key Financial Figures
- $1.00 m — e of the Ordinary Shares to satisfy the $1.00 minimum bid price requirement for continu
Filing Documents
- form6-k.htm (6-K) — 20KB
- ex99-1.htm (EX-99.1) — 13KB
- 0001493152-24-037769.txt ( ) — 34KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Date: September 23, 2024 FREIGHT TECHNOLOGIES, INC. By: /s/ Javier Selgas Name: Javier Selgas Title: Chief Executive Officer