{"id":772949,"date":"2023-07-27T05:59:11","date_gmt":"2023-07-27T09:59:11","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/view-inc-completes-reverse-stock-split\/"},"modified":"2023-07-27T05:59:11","modified_gmt":"2023-07-27T09:59:11","slug":"view-inc-completes-reverse-stock-split","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/view-inc-completes-reverse-stock-split\/","title":{"rendered":"View, Inc. Completes Reverse Stock Split"},"content":{"rendered":"

\nCommon Stock Begins Trading on Split-Adjusted Basis
\n<\/h2>\n
\n

MILPITAS, Calif., July 27, 2023 (GLOBE NEWSWIRE) — View, Inc. (Nasdaq: VIEW) (\u201cView\u201d or the \u201cCompany\u201d) today announced that on July 26, 2023, View filed a Certificate of Amendment (the \u201cCertificate of Amendment\u201d) to the Company\u2019s Amended and Restated Certificate of Incorporation (the \u201cCertificate of Incorporation\u201d) with the Secretary of State of the State of Delaware to effect a 60-for-1 reverse stock split of the outstanding shares of the Company\u2019s Class A common stock, par value $0.0001 per share (the \u201cCommon Stock,\u201d and such reverse stock split, the \u201cReverse Stock Split\u201d). The Reverse Stock Split became effective upon the filing of the Certificate of Amendment on July 26, 2023 (the \u201cEffective Time\u201d), and View\u2019s Common Stock will begin trading on a split-adjusted basis at market open today, July 27, 2023.<\/p>\n

The Reverse Stock Split is intended to bring the Company into compliance with the $1.00 minimum average closing share price requirement for continued listing on the Nasdaq Stock Market LLC (\u201cNasdaq\u201d).<\/p>\n

As a result of the Reverse Stock Split, every 60 shares of issued and outstanding Common Stock will be automatically combined into one issued and outstanding share of Common Stock, without any change in the par value per share. No fractional shares will be issued as a result of the Reverse Stock Split. Instead, Continental Stock Transfer & Trust Company, the Company\u2019s transfer agent (\u201cContinental\u201d), will aggregate all fractional shares and sell them as soon as practicable after the Effective Time at the then-prevailing prices on the open market, on behalf of those stockholders who would otherwise have been entitled to receive a fractional share as a result of the Reverse Stock Split. The Reverse Stock Split will reduce the number of shares of Common Stock outstanding from approximately 242,446,036 shares to approximately 4,040,767 shares, subject to adjustment for the treatment of fractional shares. The number of authorized shares of Common Stock under the Certificate of Incorporation will not be affected. A proportionate adjustment was also made to the maximum number of shares issuable under the Company\u2019s 2021 Equity Incentive Plan.<\/p>\n

Stockholders who hold their shares in book-entry form or in \u201cstreet name\u201d (through a broker, bank, or other holder of record) will not be required to take any action.<\/p>\n

The Common Stock will begin trading on a split-adjusted basis on Nasdaq at the market open on July 27, 2023. The trading symbol for the Common Stock will remain \u201cVIEW\u201d. The new CUSIP number for the Common Stock following the Reverse Stock Split is 92671V 304.<\/p>\n

\n About View<\/strong>\n <\/p>\n

View is the leader in smart building technologies that transform buildings to improve human health and experience, reduce energy consumption and carbon emissions, and generate additional revenue for building owners. View Smart Windows use artificial intelligence to automatically adjust in response to outdoor conditions, eliminating the need for blinds and increasing access to natural light. Every View installation includes a cloud-connected smart building platform that can easily be extended to reimagine the occupant experience. View\u2019s products are installed in offices, apartments, airports, hotels, and educational facilities. For more information, please visit: www.view.com.<\/p>\n

\n Forward-Looking Statements<\/strong>\n <\/p>\n

This press release and certain materials View files with the U.S. Securities and Exchange Commission (the \u201cSEC\u201d), as well as information included in oral statements or other written statements made or to be made by View, other than statements of historical fact, contain certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. These forward-looking statements are based on current expectations, estimates, assumptions, projections and management\u2019s beliefs, that are subject to change. There can be no assurance that these forward-looking statements will be achieved; these statements are not guarantees of future performance and are subject to certain risks, uncertainties and other factors, many of which are beyond View\u2019s control and are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. View\u2019s business is subject to a number of risks which are described more fully in View\u2019s Annual Report on Form 10-K for the year ended December 31, 2022, as amended, its Quarterly Reports on Form 10-Q and in its other filings with the SEC. View undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date hereof.<\/p>\n

Many important factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to those described below. The effect of a reverse stock split on the per share trading price of View\u2019s common stock cannot be predicted with any certainty, and the outcomes of reverse stock splits for other companies are varied, particularly given that investors may view a reverse stock split as a negative indicator. It is possible that the per share trading price of View\u2019s common stock after the Reverse Stock Split will not increase in the same proportion as the reduction in the number of View\u2019s outstanding shares of common stock following the Reverse Stock Split or at all, and the Reverse Stock Split may not result in a per share trading price that will attract investors who do not trade in lower priced stocks. View cannot assure you that following the Reverse Stock Split, its common stock will be more attractive to investors or that it will regain compliance with the $1.00 minimum average closing share price requirement for continued listing on Nasdaq. Following the Reverse Stock Split, the per share trading price of View\u2019s common stock may decrease due to factors unrelated to the Reverse Stock Split, including View\u2019s future performance. If the per share trading price of View\u2019s common stock following the Reverse Stock Split declines, the percentage decline as an absolute number and as a percentage of View\u2019s overall market capitalization may be greater than would occur in the absence of the Reverse Stock Split.<\/p>\n

The Reverse Stock Split may decrease the liquidity of View\u2019s common stock and result in higher transaction costs. The liquidity of View\u2019s common stock may be negatively impacted by the Reverse Stock Split, given the reduced number of shares that are outstanding following the Reverse Stock Split, particularly if the per share trading price does not increase as a result of the Reverse Stock Split. In addition, the Reverse Stock Split will increase the number of View\u2019s stockholders who own \u201codd lots\u201d of fewer than 100 shares of common stock. Brokerage commission and other costs of transactions in odd lots are generally higher than the costs of transactions of more than 100 shares of common stock.<\/p>\n

\n Contacts:<\/strong>\n <\/p>\n

View, Inc.
IR@View.com
(408) 493-1358<\/p>\n

\n
\n
\n \n <\/div>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

Common Stock Begins Trading on Split-Adjusted Basis MILPITAS, Calif., July 27, 2023 (GLOBE NEWSWIRE) — View, Inc. (Nasdaq: VIEW) (\u201cView\u201d or the \u201cCompany\u201d) today announced that on July 26, 2023, View filed a Certificate of Amendment (the \u201cCertificate of Amendment\u201d) to the Company\u2019s Amended and Restated Certificate of Incorporation (the \u201cCertificate of Incorporation\u201d) with the Secretary of State of the State of Delaware to effect a 60-for-1 reverse stock split of the outstanding shares of the Company\u2019s Class A common stock, par value $0.0001 per share (the \u201cCommon Stock,\u201d and such reverse stock split, the \u201cReverse Stock Split\u201d). The Reverse Stock Split became effective upon the filing of the Certificate of Amendment on July 26, 2023 (the \u201cEffective Time\u201d), and … <\/p>\n

Continue reading “View, Inc. Completes Reverse Stock Split”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-772949","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nView, Inc. Completes Reverse Stock Split - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/view-inc-completes-reverse-stock-split\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"View, Inc. 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