Nightfood Holdings Inc. (OTCQB: NGTF) has issued a letter to shareholders to clarify its recently filed Preliminary Schedule 14C Information Statement concerning authorization for a potential reverse stock split. The company’s board of directors and majority stockholder have approved authorization for the board to effect a reverse split within a range of 1-for-150 to 1-for-250, in connection with a potential listing on a national securities exchange. The authorization gives the board discretion to determine whether and when to implement a reverse split and to select a ratio based on market conditions and the company’s trading price at that time.
Nightfood emphasized that the authorization does not mean a reverse split will necessarily occur and that the board may abandon the action entirely. This clarification comes as the company positions itself for a potential uplisting, which could provide greater visibility and access to capital markets. A reverse stock split is often used by companies trading on the OTC markets to meet the minimum bid price requirements for listing on exchanges like Nasdaq or the NYSE.
The company, which does business as TechForce Robotics, is focused on AI-driven robotics, enterprise automation, hospitality automation, pharmaceutical automation, and advanced-technology commercialization. Through strategic acquisitions, partnerships, and technology-development initiatives, Nightfood is building a diversified automation platform serving multiple high-growth industries. The potential uplisting could enhance the company’s profile and attract a broader investor base.
For more details on the preliminary filing and the shareholder letter, the full press release is available at https://ibn.fm/DXOVA. The latest news and updates relating to NGTF are also available in the company’s newsroom at http://ibn.fm/NGTF.
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