High Wire Networks Announces Reverse Stock Split

Yahoo

30-05-2025

BATAVIA, Ill., May 30, 2025 (GLOBE NEWSWIRE) -- High Wire Networks, Inc. (OTCQB: HWNI), a global provider of managed cybersecurity services, today announced that its board of directors has determined to effect a one-for-250 reverse stock split of the Company's common stock, par value $0.0001 per share (the 'Common Stock').
Mark Porter, High Wire Networks CEO commented, 'This is an important and essential step in our ongoing efforts to become listed on a major exchange. Inclusive of increasing our stock price, it also better positions the Company to meet several requirements as set out by Nasdaq, while more closely reflecting the true value of our stock to the market. We look forward to continuing the pursuit to list on the Nasdaq and to providing updates to shareholders on our progress.'
The reverse stock split will take effect at market open on Monday June, 2, 2025 on the OTCQB market. The CUSIP number of 42981W203 will be assigned to the Company's Common Stock when the reverse stock split becomes effective.
When the reverse stock split becomes effective, every 250 of the Company's issued shares of Common Stock will be combined into one issued share of Common Stock, without any change to the par value per share. This will reduce the number of outstanding shares of Common Stock from approximately 251,151,117 million shares to approximately 1,004,604 million shares.
No fractional shares will be issued in connection with the reverse stock split. Stockholders who would otherwise hold a fraction of a share of Common Stock of the Company will automatically be entitled to receive an additional fraction of a share of Common Stock to round up to the next whole share.
The reverse stock split ratio approved by the board of directors is within the previously disclosed range of ratios for a reverse stock split disclosed in the Company's Information Statement filed on February 10, 2025.
About High Wire NetworksHigh Wire Networks, Inc. (OTCQB: HWNI) is a fast-growing, award-winning global provider of managed cybersecurity. Through over 200 channel partners, it delivers trusted managed services for more than 1,100 managed security customers worldwide. End customers include Fortune 500 companies and many of the nation's largest government agencies.
The company's Overwatch by High Wire Networks™ platform offers a range of subscription services for threat prevention, detection, and response, meeting the security and compliance requirements of organizations large and small. The company's IT enablement services provide the foundation for growing its higher-margin Overwatch business.
High Wire was recently ranked by Frost & Sullivan as a Top 12 Managed Security Service Provider in the Americas. It was also named to CRN's MSP 500 and Elite 150 lists of the nation's top IT managed service providers.
Learn more at HighWireNetworks.com. Follow the company on X, view its extensive video series on YouTube or connect on LinkedIn.
Forward-Looking StatementsThe above news release contains forward-looking statements. The statements contained in this document that are not statements of historical fact, including but not limited to, statements identified by the use of terms such as 'anticipate,' 'appear,' 'believe,' 'could,' 'estimate,' 'expect,' 'hope,' 'indicate,' 'intend,' 'likely,' 'may,' 'might,' 'plan,' 'potential,' 'project,' 'seek,' 'should,' 'will,' 'would,' and other variations or negative expressions of these terms, including statements related to expected market trends and the Company's performance, are all 'forward- looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995 and involve a number of risks and uncertainties. These statements are based on assumptions that management believes are reasonable based on currently available information, and include statements regarding the intent, belief or current expectations of the Company and its management. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performances and are subject to a wide range of external factors, uncertainties, business risks, and other risks identified in filings made by the company with the Securities and Exchange Commission. Actual results may differ materially from those indicated by such forward-looking statements. The Company expressly disclaims any obligation or undertaking to update or revise any forward-looking statement contained herein to reflect any change in the company's expectations with regard thereto or any change in events, conditions or circumstances upon which any statement is based except as required by applicable law and regulations.
Company ContactMark Porter, CEOHigh Wire NetworksTel [phone]
Media RelationsLori AlemanDirector of MarketingHigh Wire NetworksO: 630-635-8477 | C: 602-920-0902Email: [e-mail]: www.highwirenetworks.com