WILLISTON, Vt. - iSun, Inc. (NASDAQ: ISUN), a company specializing in solar energy and clean mobility infrastructure, has announced the cancellation of its previously planned reverse stock split. The decision, approved by the Board of Directors, comes after re-evaluating market conditions and the company's financial outlook.
Jeff Peck, the CEO of iSun, stated, "We have always prioritized shareholder value and transparency in our decision-making process. After thorough evaluation and discussions with our shareholders, we have determined that rescinding the reverse stock split is the appropriate course of action at this time."
The rescission means that the reverse stock split, which had been approved earlier, will no longer take place, leaving the company's outstanding shares unchanged. This move is seen as aligning with the best interests of the company and its shareholders.
iSun, with a history dating back to 1972, has been involved in various electrical technology projects, including the installation of over 400 megawatts of solar systems. The company has also been a trusted electrical contractor for Fortune 500 companies, engaging in the installation of clean rooms, fiber optic cables, and flight simulators, among other projects.
The company confirms its commitment to its core business objectives and strategic initiatives, aiming to deliver long-term value to its shareholders. Regular updates on iSun's progress and performance have been promised to shareholders and stakeholders.
This press release contains forward-looking statements under the Private Securities Litigation Reform Act of 1995, which involve risks and uncertainties that could cause actual results to differ materially from the forecasts.
The information provided is based on a press release statement from iSun, Inc. and does not include any promotional content or endorsement of the company's claims.
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