Meta Materials Series A Preferred (MMTLP) has announced the Spin-Off of Next Bridge Hydrocarbons, Inc. Terms for this event are one share of Next Bridge Hydrocarbons, Inc for every share of MMTLP held.
- The record date for this event is December 12th 2022.
- Meta Materials intends to cancel shares in MMTLP effective December 13th 2022.
- Distribution of the new Next Bridge Hydrocarbons, Inc shares is expected on or around December 14th 2022.
Note that 📄:
- Our custodian does not support buy orders of MMTLP, therefore, it will remain in close-only until the cancellation of the shares.
- Shares of Next Bridge Hydrocarbons, Inc common stock will not be transferable or tradeable, as they are not eligible for electronic trading through DTC or any other established clearing corporation and, therefore, will not be tradable through the Trading 212 app.
- Your new position reflects the DTC allocation held at our custodian on your behalf, however, share certificates are yet to be issued.
Any MMTLP position that remains open at the close of business on December the 12th* will receive new shares in Next Bridge Hydrocarbons, Inc. Positions closed prior to this date will not receive the spun-off shares.
*The date above was updated from the 8th of December to the 12th of December as per the latest information received about the event details.
❗UPDATE (December 9th):
Currently, MMTLP sell orders cannot be executed. As per the latest information received, there are no available venues where trading can be facilitated.
This is valid as of the time of writing, and any future updates will be included in this article.