The company will trade on the OTCQB Markets under the ticker ASTID, with the “D” added to indicate that the split has occurred. After 20 trading days subsequent to the split, it will revert to the original ticker – ASTI.
As a result of the reverse stock split, every 20 shares of the company’s common stock issued and outstanding at the effective time will automatically be combined into one issued and outstanding share without any change in the par value of those shares. In lieu of issuing fractional shares, the company will round fractions of shares up to the nearest whole share.
The company expects to have approximately 17 million post-split shares outstanding as a result of the reverse stock split. The number of authorized shares of common stock will remain at 450 million shares.