Damon Industries Announces Effective Date of Anticipated Reverse Stock Split
[City, State] – June 30, 2025 – Damon Industries, a prominent player in its sector, today announced the definitive effective date for its previously disclosed one-for-ten (1-for-10) reverse stock split. The corporate action, aimed at adjusting the number of outstanding shares of its common stock, is scheduled to take effect at the close of business on July 11, 2025.
Following the effective date, shareholders of Damon Industries will hold one share of common stock for every ten shares they previously owned. This adjustment is expected to be reflected in shareholder accounts on or about July 14, 2025. The company’s common stock will continue to trade on its current exchange under its existing ticker symbol, though it will be on a split-adjusted basis.
The decision to implement a reverse stock split was approved by Damon Industries’ Board of Directors and will be executed in accordance with the company’s governing documents and applicable securities laws. Management has indicated that the primary motivations behind this move are to enhance the per-share market price of its common stock and to potentially broaden its appeal to a wider range of investors. By increasing the per-share price, the company hopes to improve its stock’s marketability and potentially align it more closely with the per-share valuations of comparable companies within its industry.
Damon Industries has stated that fractional shares resulting from the reverse stock split will be handled in the standard manner, typically being paid out in cash or rounded up to the nearest whole share, depending on the specific provisions outlined in the split authorization and the brokerage accounts of individual shareholders. Shareholders are encouraged to consult with their respective financial advisors or brokers for detailed information regarding how the reverse split will specifically impact their holdings.
The company anticipates that this strategic adjustment will contribute positively to its future financial reporting and investor relations efforts. Damon Industries remains committed to its strategic objectives and looks forward to this transition as a step towards continued growth and shareholder value enhancement.
Damon Announces Effective Date of Reverse Split
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