Wireless Ronin Technologies, Inc. Announces Completion ofOne-for-Five Reverse Stock Split
MINNEAPOLIS, MN, Dec 17, 2012 (Menafn - MARKETWIRE via COMTEX) --Wireless Ronin Technologies, Inc. RNIN today announcedthat its one-for-five reverse stock split was completed effective onthe close of business on December 14, 2012. Trading of the Company'scommon stock on The NASDAQ Capital Market will begin on asplit-adjusted basis at the open of trading on December 17, 2012.
On November 29, 2012, the Company's Board of Directors approved aone-for-five share combination of its common stock, also known as areverse stock split, to be effective at 5:00 p.m. ET on December 14,2012. The Company filed an amendment to its Articles of Incorporationto effect the reverse stock split.
The reverse stock split is intended to enable the per share tradingprice of the Company's common stock to increase to satisfy theminimum bid price requirement for continued listing set forth inNASDAQ Listing Rule 5810(b).
As a result of the reverse stock split, every five shares of theCompany's common stock that were issued and outstanding as of theeffective time were automatically combined into one issued andoutstanding share without any change in the par value of such shares,and the number of authorized but unissued shares of the Company'scommon stock was proportionally reduced. A proportionate adjustmentalso was made to the Company's outstanding derivative securities. Toreflect the reverse stock split, NASDAQ will append the fifthcharacter "D" to the ticker symbol of the Company's common stock for20 business days.
No fractional shares of common stock will be issued as a result ofthe reverse stock split. Shareholders of record who would otherwisebe entitled to fractional shares will receive cash in lieu offractional shares.
Following the reverse stock split, the Company expects to haveapproximately 4,998,014 shares of common stock outstanding. The CUSIPnumber for the post-split shares will be 97652A 302.
About Wireless Ronin Technologies, Inc. Wireless Ronin Technologies,Inc. (WRT) RNIN (www.wirelessronin.com), is a marketingtechnologies company with leading expertise in current and emergingdigital media solutions, including signage, interactive kiosks,mobile, social media and web, that enable clients to transform howthey engage with their customers. WRT provides marketing technologysolutions and services to clients, helping increase revenue andimprove operating efficiencies to execute marketing initiatives.Since launching RoninCast(R) digital signage software in 2003, WRThas led the digital signage industry by bringing leading edgetechnology, services and support to its clients. WRT offers an arrayof services to support its clients' marketing technology needsincluding consulting, creative development, project management,installation, training, and support and hosting. The company's commonstock trades on the NASDAQ Capital Market under the symbol "RNIN."Follow us on Twitter (https://twitter.com/wirelessronin) andPinterest (http://pinterest.com/rnin/) and like us on Facebook(https://www.facebook.com/wirelessronin).
Forward-Looking Statements This release contains certainforward-looking statements of expected future developments, asdefined in the Private Securities Litigation Reform Act of 1995.These forward-looking statements reflect management's expectationsregarding continued listing on NASDAQ and other matters and are basedon currently available data; however, actual results are subject tofuture risks and uncertainties, which could materially affect actualperformance. Risks and uncertainties that could affect suchperformance include, but are not limited to, the following: estimatesof future expenses, revenue and profitability; the pace at which thecompany completes installations and recognizes revenue; trendsaffecting financial condition and results of operations; ability toconvert proposals into customer orders; the ability of customers topay for products and services; the revenue recognition impact ofchanging customer requirements; customer cancellations; theavailability and terms of additional capital; ability to develop newproducts; dependence on key suppliers, manufacturers and strategicpartners; industry trends and the competitive environment; and theimpact of losing one or more senior executives or failing to attractadditional key personnel. These and other risk factors are discussedin detail in the risk factors section of the company's Annual Reporton Form 10-K filed with the Securities and Exchange Commission onMarch 21, 2012.
Company Contact:
Darin P. McAreavey
Senior Vice President and Chief Financial Officer
Email Contact
952-564-3525
Investor Relations Contact:
Matt Glover or Michael Koehler
Liolios Group, Inc.
Email Contact
949-574-3860
SOURCE: Wireless Ronin Technologies
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