Orlando, Fla. (December 22, 2015) – IZEA, Inc. (IZEA: OTCQB), operator of the premiere online marketplace that connects brands and publishers with influential content creators, announced today that it plans to effect a reverse stock split of its outstanding shares of common stock in order to satisfy the minimum bid price level of $4.00 per share required to uplist its shares for trading on Nasdaq. The Company filed an initial listing application with Nasdaq earlier this year and believes that it currently meets all other financial, liquidity and corporate governance requirements for initial listing on the Nasdaq Capital Market.
The Company anticipates that after the reverse and maintaining a price above the required minimum bid price for a period of time as prescribed by Nasdaq, it will begin trading on the Nasdaq Capital Market in January 2016.
“It is our belief that uplisting to a national securities exchange will allow a broader base of worldwide institutions, investment funds and retail investors to participate in our future growth,” said Ted Murphy, IZEA’s Chairman and Chief Executive Officer. “When definitively approved, this will be a big milestone for our company and another important step towards achieving our long term goals.”
The company has already received shareholder approval for its reverse stock split. The ratio of the split will be determined and announced by IZEA’s Board of Directors in early January.