LOS ANGELES, CA – April 8, 2025: IDW Media Holdings, Inc., (the “Company” or “IDW”) (OTCQB: IDWM), an integrated media company, today announced that its Board of Directors and Majority Stockholder have approved a 1-for-100 reverse stock split (the “Reverse Stock Split”) of its Class B Common Stock, Class C Common Stock, and Preferred Stock, expected to take effect in June 2025. Consummation of the Reverse Stock Split will be confirmed in a subsequent press release.
The Reverse Stock Split, authorized by the Company’s Board of Directors on April 7, 2025, and approved by the Majority Stockholder via written consent on April 8, 2025, combines every one hundred (100) shares of each class of the Company’s stock into one (1) share of the same class. Stockholders will be entitled to receive a cash payment in lieu of fractional shares, in an amount calculated based on the fair market value as of the effective date of the Reverse Stock Split, as determined by the Board of Directors. Concurrently, the Company will amend and restate its Certificate of Incorporation to reduce the total number of authorized shares of all classes of capital stock from 38,000,000 to 380,000, consisting of 350,000 shares of Class B Common Stock, 25,000 shares of Class C Common Stock, and 5,000 shares of Preferred Stock, each with a par value of $0.01 per share.
The Reverse Stock Split will apply to all issued and outstanding shares, as well as shares held in treasury, as of the record date of May 8, 2025. Additional information regarding the value to be paid for fractional shares and implementation details will be communicated to stockholders in the near future.
Stockholders who wish to comment on the Reverse Stock Split may email david.jonas@idwmh.com.
About IDW Media Holdings:
IDW (OTCQB: IDWM) is an integrated media company providing compelling stories and characters for global audiences. Our IDW Publishing and IDW Entertainment businesses acquire IP for holistic franchise development across comics and graphic novels, television and other entertainment platforms and leverage established stories from our creative partners.
Forward-Looking Statements:
In this press release, all statements that are not purely about historical facts, including, but not limited to, those in which we use the words “believe,” “anticipate,” “expect,” “plan,” “intend,” “estimate, “target” and similar expressions, are forward-looking statements. While these forward-looking statements represent our current judgment of what may happen in the future, actual results may differ materially from the results expressed or implied by these statements due to numerous important factors, including, but not limited to, those described in our Annual Report for the fiscal year ended October 31, 2024 (under the heading “Management’s Discussion and Analysis of Financial Condition and Results of Operations”), and subsequent reports that we may make available. We are under no obligation, and expressly disclaim any obligation, to update the forward-looking statements in this press release, whether as a result of new information, future events or otherwise.
Company Contact:
Davidi Jonas
IDW Media Holdings, Inc.
david.jonas@idwmh.com