Sales intelligence firm Nfusz Inc., based in Hollywood, announced Feb. 4 it will change its name to Verb Technology Company Inc. in preparation for a planned listing on the Nasdaq stock exchange.
The company’s existing listing on the OTC Markets Group venture market will change temporarily to “FUSZD,” then remain “FUSZ”. Verb Technology will list as “VERB” on the Nasdaq.
Verb Technology also announced a stock consolidation in the form of a 1-for-15 reverse stock split .
According to Verb, the move is consistent with its previously announced plan to meet the Nasdaq requirements for up-listing company stock, approved by its board of directors Jan. 31.
Verb Technology noted all stockholders will be uniformly affected by this change but will not experience differences in their individual interest in the company’s equity. After the consolidation, Verb Technology will have 12.2 million shares of outstanding common stock.
At close of day on Feb. 4, FUSZ stock was trading at $7.01 with a market cap of $93 million.
Tech reporter Samson Amore can be reached at firstname.lastname@example.org or (323) 556-8335. Follow him on Twitter @samsonamore.