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Tritium Confirms Effective Date of Reverse Stock Split

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Tritium DCFC (Nasdaq: DCFC) confirms the effective date of its reverse stock split, consolidating every 200 shares into 1 share on April 2, 2024.
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The announcement of a reverse stock split by Tritium DCFC Limited is a strategic move that often aims to adjust the share price of a company in the market. By consolidating 200 shares into a single share, the immediate effect is an increase in the price per share. This can make the stock more appealing to institutional investors who may avoid lower-priced stocks due to perceived volatility or lack of liquidity. Additionally, a higher share price can help a company comply with stock exchange minimum price requirements, potentially avoiding delisting.

However, while the price per share increases, the reverse split does not add intrinsic value to the company. The market capitalization remains the same, as the increase in share price is offset by a reduction in the number of shares outstanding. Investors should be aware that while the optics of a higher share price may seem positive, the underlying fundamentals of the company are unchanged by this action. It is essential to analyze the company's performance, market position and growth prospects to understand the long-term implications of such a corporate action.

From a market perspective, Tritium's decision to execute a reverse stock split reflects broader trends within the EV infrastructure sector. As the EV market grows, charging infrastructure companies like Tritium are under pressure to scale operations and present strong financials to attract investment and partnerships. The reverse stock split could be interpreted as an effort to stabilize stock performance and signal confidence to the market.

It is important to consider the competitive landscape and how Tritium stands in relation to its peers. The company's ability to innovate and capture market share in the fast-growing EV charging sector will be critical. Market sentiment following the reverse stock split will depend on Tritium's subsequent financial reports and operational updates. Investors should monitor these developments closely to gauge the company's health and the market's reception of the reverse stock split.

BRISBANE, Australia, March 28, 2024 (GLOBE NEWSWIRE) -- Tritium DCFC Limited (Nasdaq: DCFC) (“Tritium” or the “Company”), a global developer and manufacturer of direct current (“DC”) fast chargers for electric vehicles (“EVs”), today confirms the effective date of its reverse stock split.

As previously reported, on March 22, 2024, the Company held an Extraordinary General Meeting of Shareholders to consider the resolution to consolidate Company ordinary shares (the “Shares”) on the basis that every two-hundred (200) Shares be consolidated into one (1) Share (the “Consolidation”). Following the completion of listing exchange procedures, the effective date of the Consolidation will be April 2, 2024.

About Tritium

Founded in 2001, Tritium (NASDAQ: DCFC) designs and manufactures proprietary hardware and software to create advanced and reliable DC fast chargers for EVs. Tritium’s compact and robust chargers are designed to look great on Main Street and thrive in harsh conditions, through technology engineered to be easy to install, own, and use. Tritium is focused on continuous innovation in support of our customers around the world.

For more information, visit tritiumcharging.com.

Forward Looking Statements

This press release includes “forward-looking statements.” The Company’s actual results may differ from its expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believe,” “predict,” “potential,” “continue,” “aim” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, the Company’s expectations, hopes, beliefs, intentions, or strategies for the future, including those that relate to the Company’s reverse stock split and share price. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. You should carefully consider the risks and uncertainties described in the documents filed by the Company from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Most of these factors are outside the Company’s control and are difficult to predict. The Company cautions not to place undue reliance upon any forward-looking statements, including projections, which speak only as of the date made. The Company does not undertake or accept any obligation to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions, or circumstances on which any such statement is based.

Media Contact
Nathan Dunlop

media@tritiumcharging.com


The effective date of the reverse stock split for Tritium DCFC is April 2, 2024.

In Tritium DCFC 's reverse stock split, every 200 shares will be consolidated into 1 share.

Tritium DCFC is a global developer and manufacturer of direct current (DC) fast chargers for electric vehicles (EVs).
Tritium DCFC Limited

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About DCFC

Tritium DCFC Ltd. designs and manufactures proprietary hardware and software to develop direct current chargers for electric vehicles.