17 April 2023
Guerrilla RF implements one-for-six reverse stock split
Guerrilla RF Inc (GRF) of Greensboro, NC, USA — a provider of radio frequency (RF) and microwave communication solutions for wireless OEMs — is implementing a one-for-six reverse split of its outstanding and authorized common stock, effective at 12:01am (EDT) on 17 April. The common stock continues trading under the temporary symbol ‘GUERD’ on a reverse stock-split-adjusted basis on the OTCQX market.
The reverse stock split was approved by the firm’s board of directors and shareholders on 5 April, for the purpose of filing an application to uplist Guerrilla RF’s common stock to a national securities exchange. The reverse stock split is intended to fulfill the stock price requirements for initial listing.
“Uplisting to a national securities exchange will allow us greater access to capital, better liquidity, and more visibility for our brand as we embark on the next phase of our commercialization strategy,” believes Sam Funchess, VP of investor relations. “This coincides with our focus on expanding the depth and breadth of our product pipeline and moving into the highly lucrative industry verticals — 5G, automotive connectivity, cellular boosters and DAS, military radios, and wireless audio,” he adds. “This is an important step in our previously announced capital markets strategy to increase the liquidity and visibility of Guerrilla RF’s common stock and better serve our shareholders.”
Guerrilla RF completes final closing of $9.2m private placement equity financing