Shanghai-based Tiger Media completes domestication as a Delaware corporation
SHANGHAI, China – March 20, 2015 — Tiger Media, Inc., a Shanghai-based multi-platform media company, announced today that the previously approved reverse stock split of the Company’s ordinary shares, par value $0.0001 per share, at a ratio of one-for-five , became effective after the close of business on March 19, 2015. The Company’s common stock will begin trading on a split-adjusted basis at the open of business on the morning of March 20, 2015. The Company’s common stock will continue to trade on the NYSE MKT under the symbol IDI with a new CUSIP of 88674Y 105. The ability to trade in the Company’s common stock should be unaffected by the Stock Split.
Also, the Company announced the completion of its domestication as a Delaware corporation (the “Domestication”), effective before the open of business on March 20, 2015. The Company expects to complete the previously announced acquisition of The Best One, Inc. after the close of business on Friday.
About Tiger Media, Inc.
Tiger Media is a leading Shanghai-based multi-platform media company in China which provides advertising services in the out-of-home advertising industry, including iScreen Outdoor LCD screens, billboards and street furniture. Tiger Media’s network of street level LCD screen displays, which captivate eye-level awareness, is complemented by outdoor billboards which are mostly built on rooftops with good visibility from far distances. Tiger Media’s network attracts advertising clients from a wide range of industries including telecommunications, insurance and banking, automobile, electronics and fast moving consumer goods. Learn more at www.tigermedia.com.