Creative Realities, Inc. (“Creative Realities,” “CRI,” or the
“company”) (NASDAQ: CREX, CREXW), a leading provider of digital
signage solutions, announced today that effective at 12:01 am on
Monday, March 27, 2023, the Company will effect a one-for-three
reverse stock split of its outstanding common stock. The Company’s
common stock will continue to trade under the symbol “CREX” and is
expected to open for trading on the Nasdaq Capital Market on
Monday, March 27, 2023 on a post-split basis.
The reverse stock split is primarily intended to bring the
Company into compliance with the minimum bid price requirement to
maintain the listing of the Company’s common stock on the Nasdaq
Capital Market. Upon the effectiveness of the reverse stock split,
every three shares of issued and outstanding common stock at the
close of business on Friday, March 24, 2023 automatically will be
combined into one issued and outstanding share of common stock,
with no change in par value per share.
In connection with the reverse stock split, the total number of
shares of common stock authorized for issuance will be reduced from
200,000,000 shares to 66,666,666 in proportion to the reverse stock
split. No fractional shares will be issued as a result of the
reverse stock split. Any fractional share of a shareholder
resulting from the reverse stock split will be rounded up to the
nearest whole number of shares.
The reverse stock split will affect all issued and outstanding
shares of the Company’s common stock, as well as the number of
shares of common stock available for issuance under the Company’s
equity compensation programs and all outstanding equity-based
awards. The reverse stock split will reduce the number of shares of
common stock issuable upon the exercise or vesting of equity-based
awards and correspondingly increase any applicable exercise prices.
The reverse stock split will affect all shareholders uniformly and
will not alter any shareholder’s percentage interest in the
Company’s equity, except to the extent that the reverse stock split
results in some shareholders experiencing an adjustment of a
fractional share as described above.
Shareholders holding share certificates will receive information
from Computershare, the Company’s transfer agent, regarding the
process for exchanging their shares of common stock. Shareholders
holding shares in book entry at Computershare will receive updated
account statements showing their shares on a post-split basis.
Shareholders with questions may contact Computershare at (800)
368-5948 (US, Canada, Puerto Rico) or (781) 575-4223
(international).
About Creative Realities, Inc.
Creative Realities helps clients use place-based
digital media to achieve business objectives such as increased
revenue, enhanced customer experiences, and improved productivity.
The Company designs, develops and deploys digital signage
experiences for enterprise-level networks, and is actively
providing recurring SaaS and support services across diverse
vertical markets, including but not limited to retail, automotive,
digital-out-of-home (DOOH) advertising networks, convenience
stores, foodservice/QSR, gaming, theater, and stadium venues.
With the Company’s 2022 acquisition of Reflect
Systems, Inc. (“Reflect”), a leading provider of digital signage
software platforms, the Company has extended its product and
service offering to accelerate growth in SaaS revenue. While
Reflect provided a broad range of digital signage solutions, the
Company’s flagship products are the market-leading ReflectView
digital signage platform and Reflect AdLogic ad management
platform. ReflectView is the industry’s most comprehensive,
scalable, enterprise-grade digital signage platform, powering
enterprise customer networks. Meanwhile, Reflect AdLogic has become
the benchmark for digital signage powered ad networks, delivering
nearly 50 million ads daily. The acquisition of Reflect also
brought to the business a media sales division with the expertise
and relationships to help any digital signage venue owner develop
and execute a monetization plan for their network.
The combined company has operations across North
America with active installations in more than 10 countries.
Cautionary Note on Forward-Looking
Statements
This press release contains “forward-looking statements” within
the meaning of Section 27A of the Securities Act of 1933, as
amended, Section 21E of the Securities Exchange Act of 1934, as
amended, and the Private Securities Litigation Reform Act of 1995,
and includes, among other things, discussions of our business
strategies, product releases, future operations and capital
resources. Words such as “estimates,” “projected,” “expects,”
“anticipates,” “forecasts,” “plans,” “intends,” “believes,”
“seeks,” “may,” “will,” “should,” “future,” “propose” and
variations of these words or similar expressions (or the negative
versions of such words or expressions) are intended to identify
forward-looking statements. Forward-looking statements are not
guarantees of future performance, conditions or results. They are
based on the opinions, estimates and beliefs of management as of
the date such statements are made, and they are subject to known
and unknown risks, uncertainties, assumptions and other factors,
many of which are outside of our control, that may cause the actual
results, level of activity, performance or achievements to be
materially different from those expressed or implied by such
forward-looking statements. Some of these risks are discussed in
the “Risk Factors” section contained in Item 1A of our Annual
Report on Form 10-K for the year ended December 31, 2021 and the
Company’s subsequent filings with the U.S. Securities and Exchange
Commission. Important factors, among others, that may affect actual
results or outcomes include: our ability to effectively integrate
Reflect’s business operations, our strategy for customer retention,
growth, product development, market position, financial results and
reserves, our ability to execute on our business plan, our ability
to retain key personnel, potential litigation, supply chain
shortages, and general economic and market conditions impacting
demand for our products and services, including those as a result
of the COVID-19 pandemic. Readers should not place undue reliance
upon any forward-looking statements. We assume no obligation to
update or revise the forward-looking statements, whether as a
result of new information, future events or otherwise, except as
required by law.
ContactsChristina
Daviescdavies@ideagrove.comir@cri.comhttps://investors.cri.com
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