AVCT Announces Intent to Effect Reverse Stock Split

ATLANTA, Sept. 29, 2022 (GLOBE NEWSWIRE) -- American Virtual Cloud Technologies, Inc. (Nasdaq: AVCT) (the “Company”) today announces that it intends to effect a 1-for-15 reverse stock split of its issued and outstanding shares of common stock (the “Reverse Stock Split”). The Reverse Stock Split will become effective on September 30, 2022 (the “Effective Time”) upon filing with the Delaware Secretary of State of an amendment to the Company’s amended and restated certificate of incorporation (the “Charter”), and the Company's common stock is expected to begin trading on a split-adjusted basis when the market opens on October 3, 2022. The Company's common stock will continue to trade on the Nasdaq Capital Market under the symbol “AVCT.” The new CUSIP number for the common stock following the Reverse Stock Split will be 030382204.

Read more at globenewswire.com