|By Marketwired .||
|July 14, 2014 06:15 AM EDT||
IRVINE, CA -- (Marketwired) -- 07/14/14 -- Adaptive Medias, Inc. (OTCQB: ADTM), a leader in programmatic advertising across mobile, video and online display, announced today that a 1-for-30 reverse split of its common stock will be effective at the open of trading on Monday, July 14, 2014. In June 2014, Adaptive Medias, Inc.'s stockholders granted its Board of Directors the discretion to effect a reverse stock split of Adaptive's common stock at a ratio of up to 1-30.
At the effective time of the reverse stock split, every 30 shares of Adaptive Medias, Inc.'s issued and outstanding common stock will be automatically converted into one share of common stock, without any change in the par value per share. No fractional shares will be issued in connection with the reverse stock split. Adaptive Medias, Inc.'s common stock will trade under the symbol "ADTMD" for a mandated 20 business days per standard procedure. After that time, they will resume trading on the OTCQB Market under the symbol "ADTM". The reverse stock split will reduce the number of shares of Adaptive Medias, Inc.'s common stock outstanding from approximately 184,316,319 to approximately 6,143,942.
"Adaptive Media is fundamentally a much different company in its strategy, leadership, management, and vision than it was a year ago," said Qayed Shareef, CEO of Adaptive Medias, Inc. "Our financial position is strong, as our most recent quarterly reports show. This reverse stock split is a key first step towards creating a more attractive vehicle for institutional investors going forward, and is a reflection of our determination to increase the institutional shareholder base, and ultimately take the next step in our progression as a public company."
For more information about Adaptive Medias Inc., please visit www.adaptivem.com.
ABOUT ADAPTIVE MEDIA
Adaptive Media is a programmatic audience and content monetization provider for website owners, app developers and video publishers who want to more effectively optimize content through advertising. The Company provides a foundation for publishers and developers looking to engage brand advertisers through a multi-channel approach that delivers integrated, engaging and impactful ads across multiple devices. Adaptive Media meets the needs of its publishers with an emphasis on maintaining user experience, while delivering timely and relevant ads through its multi-channel ad delivery and content platform. For more information, please visit www.adaptivem.com. Also, follow them on Twitter @adaptive_m.
Safe Harbor Statement:
This Press Release may contain certain forward-looking statements within the meaning of the Securities Litigation Reform Act of 1995. Adaptive Medias, Inc. has tried, whenever possible, to identify these forward-looking statements using words such as "anticipates," "believes," "estimates," "expects," "plans," "intends," "potential" and similar expressions. These statements reflect Adaptive Medias' current beliefs and are based on information currently available to it. Accordingly, such forward-looking statements involve known and unknown risks, uncertainties and other factors which could cause Adaptive Medias' actual results, performance or achievements to differ materially from those expressed in or implied by such statements. Adaptive Medias undertakes no obligation to update or provide advice in the event of any change, addition or alteration to the information contained in this Press Release including such forward-looking statements.