JACKSONVILLE, Fla., Dec. 02, 2022 (GLOBE NEWSWIRE) — Coastal Capital Acquisition Corporation (OTCMKTS: CCAJ) (“the Company”), is currently listed on the OTC Markets (OTCMKTS) with its symbol CCAJ. The Company, as of December 1, 2022, has submitted to FINRA a Reverse Stock Split with every ten (10) shares of outstanding common shares held by each shareholder will automatically be converted into one (1) common stock. No fractional shares will be issued in connection with the reverse stock split and the par value remains unchanged. All fractional shares will be rounded up. Shareholders holding stock certificates may contact the Company’s transfer agent, Pacific Stock Transfer Company for details on how to exchange for new stock certificates.
Coastal Capital Acquisition Corporation believes it is placed precisely, in terms of long-term growth and stability, and looks toward the future endeavors of the company. By effecting the Reverse Stock Split, it will make available more equity for Strategic Partnerships in addition with financing options and acquisitions which we believe will be in the best interest of the shareholders and the company.
As a result of the reverse stock split, every 10 shares of outstanding common stock will be exchanged for 1 share of common stock, with any fractional shares being rounded up to the next higher whole share. Immediately after the reverse stock split becomes effective based on the ex-dividend date set by FINRA which the date is not guaranteed, for example if the ex-dividend date was December 2, 2022, the Company will have approximately 104,973,905 shares of outstanding common stock.
About Coastal Capital Acquisition Corporation
Is a builder primarily engaged in the construction of single-family houses (SIC 6552) and other buildings for sale on our own account rather than as contractors including renovations. Our secondary business engagement is an…
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