Identiv Announces Reverse Split of Common Stock, Name Change

Identiv announced that a 1-for-10 reverse split of its common stock will be effective at the open of business on Tuesday, May 27, 2014. The company’s board of directors approved the implementation of a reverse stock split and determined the appropriate reverse stock split ratio to be 1-for-10. Also approved by the company’s shareholders was the legal name change of the company from “Identive Group, Inc.” to “Identiv, Inc.”

“The reverse split establishes a path to maintain our NASDAQ listing,” said Jason Hart, CEO of Identiv. “We saw a record voting turnout for our 2014 Annual General Meeting, demonstrating strong support from our shareholders. Approval of our new, shortened name, ‘Identiv,’ signals a new era, as we have successfully transformed into a single, unified technology company focused on trust solutions for high-growth markets.”

At the effective time of the reverse stock split, every 10 shares of Identiv’s issued and outstanding common stock will be converted into one newly issued and outstanding share of common stock, without any change in the par value per share.

The reverse stock split will reduce the number of shares of Identiv’s outstanding common stock from 79.91 million to approximately 7.99 million. Proportional adjustments will be made to Identiv’s outstanding stock options, outstanding warrants and equity-compensation plans. The number of authorized shares of the company’s common stock will remain unchanged.