Data443 Risk Mitigation, Inc. (ATDS), a leading data security and privacy software company, announced that a 1-for-2,000 Reverse Stock Split of its outstanding common stock has become effective and has commenced trading on a split-adjusted basis. Per the requirements of FINRA, Data443’s stock symbol will temporarily change to “ATDSD” and revert back to “ATDS” after 20 business days. The new CUSIP Number for the Company’s common stock will be 23804G203.
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As a result of the Reverse Stock Split, 2,000 pre-split shares of common stock outstanding will automatically combine into one new share of common stock without any action on the part of the holders. The number of outstanding shares of common stock will be reduced from approximately 1,483,888,965 to approximately 741,945.
Jason Remillard, Data443’s founder and Chief Executive Officer, commented, “By effecting the Reverse Stock Split and applying to a national stock exchange, we are executing our plan of growing the Company and making our stock more attractive for our shareholders and investors. The timing is right to take these steps and complete our transformation, positioning the Company for long-term success.”
No fractional shares will be issued in connection with the Reverse Stock Split. Stockholders who otherwise would be entitled to receive fractional shares because they hold a number of pre-Reverse Stock Split shares of the Company’s common stock not evenly divisible by 2,000 will have the number of post-Reverse Stock Split shares of the Company’s common stock to which they are entitled rounded up to the nearest whole number of shares of the Company’s common stock.
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