HIVE Blockchain Technologies (NASDAQ:HIVE) board approved to effect a share consolidation of its shares at the ratio of 1-for-5, effective May.24. The objective of the share consolidation is to efficiently allocate shareholder capital. The company shares will trade on the TSXV and Nasdaq on a post-Consolidation basis under the same symbol, effective May 24, 2022. The consolidation will reduce the number of shares issued and outstanding from ~411.21M to ~82.24M shares. Consequently, the number of listed HIVE Warrants outstanding shall not be altered; however holders of HIVE Warrants will be entitled to receive one post-Share consolidation common share upon exercising five HIVE Warrants upon the payment of an adjusted price of CAD$30.00.
