- KWESST Micro Systems (KWE, Financial) announces a 21:1 share consolidation effective April 23, 2025 on Nasdaq, and April 24, 2025 on TSXV.
- The share consolidation aims to maintain compliance with Nasdaq's minimum bid price requirements.
- Trading will be halted temporarily on April 23, resuming on a consolidated basis on April 24, 2025.
KWESST Micro Systems Inc. (TSXV: KWE, NASDAQ: KWE), a company specializing in next-generation tactical systems, has announced a share consolidation. This consolidation will take effect on April 23, 2025, on the Nasdaq Capital Market and on April 24, 2025, on the TSX Venture Exchange (TSXV). The 21:1 consolidation will transform 21 pre-consolidation shares into one post-consolidation share. This strategic move is designed to ensure KWESST remains in compliance with Nasdaq's minimum bid price requirements.
Trading of KWESST shares will be on hold on April 23, 2025, and is set to resume the following day. Along with the share consolidation, the company's warrants will be adjusted. Post-consolidation, 210 warrants will be needed to purchase a single post-consolidation share, with the exercise price set at US$1,050.00.
The company has provided new CUSIP and ISIN numbers for the post-consolidation shares: 501506802 and CA5015068029, respectively. KWESST asserts that these changes serve the best interests of shareholders, facilitating sustained regulatory compliance and potentially enhancing the company's market position.
