Press Releases

Vu1 Corp. Finalizes 1-for-20 Reverse Stock Split; Trading Symbol Changes To VUOCD For 20 Days, Effective Nov. 23; Nasdaq Listing Planned

Stock quotes in this article:VUOC 

Vu1 Corporation (OTCBB: VUOC), a developer and manufacturer of a new, mercury-free, energy efficient general purpose lighting technology, announced today that it has finalized a 1-for-20 reverse stock split of its outstanding shares of common stock, effective November 23, 2011.

Based on initial eligibility standards for a Nasdaq Capital Market listing, the company is pursuing a Nasdaq listing for the trading of its common stock. In advance of such a listing, the company’s symbol has changed from VUOC to VUOCD for the next 20 business days to reflect the reverse stock split.

Reverse Stock Split

As of the effective date of November 23, 2011, stockholders in Vu1 will receive one post-reverse stock split share of common stock for every 20 pre-reverse stock split shares of common stock owned. As a result of the reverse stock split, the number of outstanding shares of common stock of the company has been reduced from approximately 111,357,000 shares to 5,568,000 shares. The reverse stock split has not altered any stockholder’s percentage interest or voting rights in the company’s outstanding shares, except to the extent that the reverse stock split resulted in any of the company’s stockholders owning a fractional share. Each fractional share has been rounded up to one full share.

American Stock Transfer & Trust Company is the company’s transfer agent and will be acting as the exchange agent for the purpose of implementing any exchange of stock certificates in connection with the reverse split. Stockholders who have existing stock certificates will receive instructions from the transfer agent. Stockholders who hold their shares in brokerage accounts or “street name” are not required to take any action to effect the exchange of their shares.

In addition to finalizing the reverse stock split, the company previously reduced the authorized number of shares of its common stock from 200,000,000 shares to 90,000,000 shares.

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