iCoreConnect (ICCT) Announces 1:20 Reverse Share Split

iCoreConnect Inc. (NASDAQ: ICCT), a leading provider of cloud-based software and technology solutions, today announced that it filed an amendment to its amended and restated certificate of incorporation with the Secretary of State of the State of Delaware to effect a 1-for-20 reverse stock split of its common stock. The reverse stock split will take effect at 11:59 pm (Eastern Time) on December 20, 2024, and the Company’s common stock will open for trading on The Nasdaq Capital Market on December 23, 2024, on a post-split basis, under the existing ticker symbol

“ICCT” but with a new CUSIP number 450958301.

As a result of the reverse stock split, every twenty shares of the Company’s common stock issued and outstanding prior to the opening of trading on December 23, 2024, will be consolidated into one issued and outstanding share, with no change in the nominal par value per share of $0.0001. No fractional shares will be issued in connection with the reverse stock split. Any amount of fractional shares will be rounded up to the nearest whole number at the participant (per broker) level.

As a result of the reverse stock split, the number of shares of common stock outstanding will be reduced from approximately 33.0 million shares to approximately 1.6 million shares, and the number of authorized shares of common stock will remain at 250 million shares. In addition, the number of shares reserved for issuance under the Company’s equity compensation plan immediately prior to the reverse stock split will be reduced proportionately.

You May Also Be Interested In

• Cloudastructure grows sales team by 30% to meet enterprise demand
• Stitch Fix adds self-image feature to its AI styling platform
• NXP Semiconductors names Mike Lucarelli as new investor relations head