Wireless Ronin Technologies, Inc. Announces Completion of
One-for-Five Reverse Stock Split
MINNEAPOLIS, MN -- (Marketwire) -- 12/17/12 -- Wireless Ronin
Technologies, Inc. (NASDAQ: RNIN) today announced that its
one-for-five reverse stock split was completed effective on the close
of business on December 14, 2012. Trading of the Company's common
stock on The NASDAQ Capital Market will begin on a split-adjusted
basis at the open of trading on December 17, 2012.
On November 29, 2012, the Company's Board of Directors approved a
one-for-five share combination of its common stock, also known as a
reverse stock split, to be effective at 5:00 p.m. ET on December 14,
2012. The Company filed an amendment to its Articles of Incorporation
to effect the reverse stock split.
The reverse stock split is intended to enable the per share trading
price of the Company's common stock to increase to satisfy the
minimum bid price requirement for continued listing set forth in
NASDAQ Listing Rule 5810(b).
As a result of the reverse stock split, every five shares of the
Company's common stock that were issued and outstanding as of the
effective time were automatically combined into one issued and
outstanding share without any change in the par value of such shares,
and the number of authorized but unissued shares of the Company's
common stock was proportionally reduced. A proportionate adjustment
also was made to the Company's outstanding derivative securities. To
reflect the reverse stock split, NASDAQ will append the fifth
character "D" to the ticker symbol of the Company's common stock for
20 business days.
No fractional shares of common stock will be issued as a result of
the reverse stock split. Shareholders of record who would otherwise
be entitled to fractional shares will receive cash in lieu of
Following the reverse stock split, the Company expects to have
approximately 4,998,014 shares of common stock outstanding. The CUSIP
number for the post-split shares will be 97652A 302.
About Wireless Ronin Technologies, Inc.
Wireless Ronin Technologies,
Inc. (WRT) (NASDAQ: RNIN) (www.wirelessronin.com), is a marketing
technologies company with leading expertise in current and emerging
digital media solutions, including signage, interactive kiosk
mobile, social media and web, that enable clients to transform how
they engage with their customers. WRT provides marketing technology
solutions and services to clients, helping increase revenue and
improve operating efficiencies to execute marketing initiatives.
Since launching RoninCast(R) digital signage software in 2003, WRT
has led the digital signage industry by bringing leading edge
technology, services and support to its clients. WRT offers an array
of services to support its clients' marketing technology needs
including consulting, creative development, project management,
installation, training, and support and hosting. The company's common
stock trades on the NASDAQ Capital Market under the symbol "RNIN."
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This release contains certain
forward-looking statements of expected future developments, as
defined in the Private Securities Litigation Reform Act of 1995.
These forward-looking statements reflect management's expectations
regarding continued listing on NASDAQ and other matters and are based
on currently available data; however, actual results are subject to
future risks and uncertainties, which could materially affect actual
performance. Risks and uncertainties that could affect such
performance include, but are not limited to, the following: estimates
of future expenses, revenue and profitability; the pace at which the
company completes installations and recognizes revenue; trends
affecting financial condition and results of operations; ability to
convert proposals into customer orders; the ability of customers to
pay for products and services; the revenue recognition impact of
changing customer requirements; customer cancellations; the
availability and terms of additional capital; ability to develop new
products; dependence on key suppliers, manufacturers and strategic
partners; industry trends and the competitive environment; and the
impact of losing one or more senior executives or failing to attract
additional key personnel. These and other risk factors are discussed
in detail in the risk factors section of the company's Annual Report
on Form 10-K filed with the Securities and Exchange Commission on
March 21, 2012.
Darin P. McAreavey
Senior Vice President and Chief Financial Officer
Investor Relations Contact:
Matt Glover or Michael Koehler
Liolios Group, Inc.
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