ROCHESTER, USA: Arista Power Inc., a manufacturer, designer and integrator of renewable energy generation, management and distribution systems, has filed a Certificate of Amendment to the company's Restated Certificate of Incorporation with the Secretary of State of the State of New York to effect a 1-for-20 reverse stock split of its common stock that will become effective on December 27, 2011.
The reverse stock split, which was approved by shareholders holding a majority of the shares of the Company's common stock, will reduce the number of shares of the company's outstanding common stock from approximately 226.5 million to approximately 11.3 million.
No fractional shares will be issued in connection with the reverse stock split. Any fractional post-split shares as a result of the reverse stock split will be rounded up to the nearest whole post-split share. The reverse stock split will not affect any shareholder's ownership percentage of the common stock, except to the limited extent that the reverse stock split would result in any fractional shares being rounded up.
The company will have a new CUSIP number of 040414203 starting on December 27, 2011. As part of the reverse stock split, FINRA will append a "D" to the Company's ticker symbol to indicate the completion of the reverse split. After 20 business days following the reverse split, the ticker symbol will revert back to "ASPW."
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