LIGHTBRIDGE CORPORATION (NASDAQ:LTBR) Files An 8-K Other Events
Item 8.01 Other Events.
On October 4, 2019, Lightbridge Corporation (the “Company”) announced that the Company’s Board of Directors has approved a one-for-twelve reverse stock split of the Company’s common stock. The Company expects its common stock to begin trading on a split-adjusted basis as of Monday, October 21, 2019. As a result of the reverse stock split, it is expected that the number of outstanding shares of common stock will be reduced from 38,992,237 shares to 3,249,353 shares. Following the reverse stock split, the CUSIP for the Company’s common stock will be 53224K 302. No fractional shares will be issued in connection with the reverse share split. Each stockholder that would otherwise be entitled to receive a fractional share will instead be entitled to receive, in lieu of such fractional share, one whole share of common stock. It is expected that the reverse stock split will bring the Company in compliance with Nasdaq continued listing requirements.
About LIGHTBRIDGE CORPORATION (NASDAQ:LTBR)
Lightbridge Corporation is a nuclear fuel technology company. The Company participates in the nuclear power industry in the United States and internationally. Its segments include nuclear fuel technology business and nuclear energy consulting business. The nuclear fuel technology business develops next generation nuclear fuel technology that increases the power output of commercial reactors; generates nuclear energy and the amount of nuclear waste on a per-megawatt-hour basis, and enhances reactor safety and the proliferation resistance of spent fuel. The nuclear energy consulting business segment provides nuclear power consulting and strategic advisory services to commercial and governmental entities across the world. It provides integrated strategic advice across a range of areas, including, regulatory development, nuclear reactor site selection, procurement and deployment, reactor and fuel technology, international relations, program management and infrastructure development.