Nightfood Holdings Inc. (OTCQB: NGTF) has issued a letter to shareholders to clarify its recently filed Preliminary Schedule 14C Information Statement concerning 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 a step toward listing on a national exchange, which could enhance liquidity and visibility for the company.
For more details, the full press release is available at https://ibn.fm/DXOVA. Investors seeking the latest news and updates on NGTF can visit the company's newsroom at http://ibn.fm/NGTF.
