- Damon Inc. (OTC Pink: DMNIF) will implement a 125:1 reverse stock split effective July 3, 2025.
- Outstanding shares will reduce from 2,450,477,042 to approximately 19,603,816.
- Fractional shares will be rounded to the nearest whole share post-split.
Damon Inc. (DMNIF, Financial), a company specializing in electric motorcycles and personal mobility products, has announced a significant reverse stock split at a ratio of 125:1. This corporate action will take effect as of the market opening on July 3, 2025. Shareholders will receive one new share for every 125 shares previously held, leading to a substantial reduction in the total number of shares outstanding. The outstanding shares will decrease from 2,450,477,042 to around 19,603,816 following this consolidation.
The reverse split aims to address issues related to the low trading price of the stock, potentially paving the way for an uplisting to a more significant exchange by meeting minimum share price requirements. This strategy may also enhance the marketability of Damon’s stock to investors.
The company's name and ticker symbol (DMNIF, Financial) will remain unchanged post-split. However, new CUSIP and ISIN identifiers will be assigned, specifically, 235750205 and CA2357502053, respectively. In handling fractional shares, the company will round down to the nearest whole share if less than half a share, and round up if equal to or greater than half a share.
In addition, all exercisable or convertible securities will be proportionally adjusted to reflect the new share structure, ensuring shareholders' interests are maintained.
