- System1, Inc. (SST, Financial) has implemented a 1-for-10 reverse stock split effective June 11, 2025.
- Trading on a split-adjusted basis begins June 12, 2025, on the New York Stock Exchange under ticker "SST".
- The reverse stock split aims to regain NYSE compliance while maintaining shareholder value.
System1, Inc. (SST), an omnichannel customer acquisition marketing platform, has executed a reverse stock split of its Class A and Class C Common Stock at a ratio of 1-for-10, effective as of 5:00 p.m. Eastern Time on June 11, 2025. As a result, every ten shares of existing common stock have been consolidated into one share. The company's Class A Common Stock will commence trading on a split-adjusted basis on June 12, 2025, under its existing ticker symbol "SST", with a new CUSIP number 87200P 208.
The reverse stock split reduced the number of issued and outstanding shares of System1's Class A Common Stock from approximately 79.8 million to 7.98 million shares, and Class C Common Stock from 18.7 million to 1.87 million shares. This move is designed to ensure compliance with NYSE listing standards, as stated by Michael Blend, Chairman and CEO of System1.
The company's redeemable warrants have also been adjusted, with ten warrants now exercisable for one share of Class A Common Stock at a revised exercise price of $115.00 per share. No fractional shares will be issued as part of this split; instead, stockholders entitled to fractional shares will receive cash payouts.
System1 assures that this reverse stock split will affect all shareholders uniformly, not altering any shareholder's percentage interest in the company’s equity or their proportional voting power. Additional details can be accessed through the company's SEC filings.
