In an exciting announcement that marks a significant milestone in the realm of health and wellness frozen foods, The Real Good Food Company, Inc. revealed its plans for a reverse stock split. This strategic move is set to bring about transformative changes within the company and has captured the attention of investors and industry enthusiasts alike.
Based in CHERRY HILL, N.J., The Real Good Food Company, Inc. (Nasdaq: RGF), affectionately known as Real Good Foods, stands out as a pioneering force in the frozen and refrigerated foods sector. With a robust commitment to providing wholesome options for consumers, the company has built a reputation for delivering products that are both nutritious and delicious.
The Board of Directors at The Real Good Food Company recently gave the green light to a 12-to-1 reverse stock split initiative involving its Class A common stock and Class B common stock. Scheduled to take effect at 5:00 pm Eastern Time on January 3, 2025, this maneuver aims to align with Nasdaq Listing Rule 5550(a)(2) regarding minimum bid price requirements.
Following shareholder approval at a special meeting held on December 20, 2024, the reverse stock split is designed to ensure compliance while streamlining operations within the organization. As part of this process, each twelve shares of Common Stock will be consolidated and reclassified into one share of Common Stock, impacting all shareholders uniformly.
One noteworthy aspect of this development is that fractional shares resulting from the reverse stock split will be rounded up to the nearest whole share. This meticulous approach underscores The Real Good Food Company’s dedication to fairness and transparency throughout this transition period.
To oversee the logistics of the reverse stock split, Equinity Trust Company LLC has been appointed as the exchange agent by The Real Good Food Company. While registered stockholders holding pre-reverse stock split shares electronically need not take any action, those with brokerage accounts can expect seamless adjustments reflecting the new share structure.
Real Good Foods remains steadfast in its mission to offer “Real Food You Feel Good About Eating.” By prioritizing quality ingredients and nutritional value in their diverse product range encompassing breakfast items, lunches, dinners, snacks available nationwide across over 16,000 stores with additional direct-to-consumer avenues.
Looking ahead with optimism and purposeful intent, The Real Good Food Company acknowledges that forward progress requires foresight and adaptability. In navigating potential challenges associated with such initiatives like this reverse stock split – including regulatory considerations – prudent decision-making remains key in safeguarding shareholder interests while driving sustainable growth strategies.
As stakeholders anticipate how these developments will unfold post-reverse stock split implementation date – January 3rd – it is evident that The Real Good Food Company’s commitment to excellence continues unabated. With consumer satisfaction at its core ethos alongside financial prudence guiding operational decisions – this latest update signals an exciting chapter for both investors and customers alike.
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