Pursuant to Stem’s S-4 deemed effective by the SEC on February 2, 2021, Driven shareholders with undeposited shares held in certificate form or in book entry form with Driven's transfer agent will have shares of Stem issued, in the same amount and with the same restrictions, by Odyssey Trust Company, Stem’s transfer agent. There is no additional action required from investors with deposited DRVD shares or DRVD investors who have purchased in the open market. Driven shares in brokerage accounts will automatically be converted to shares of Stem (CUSIP NO: 85858U107) by Depository Trust Company (“DTC”) and the brokerage firms.
On FebruFINRA will halt and remove the DRVD symbol (CUSIP NO: 26209D105). The exchange of the Driven Deliveries common stock for Stem common stock follows the Company’s previously announced acquisition (the “Acquisition”) of Driven Deliveries, which closed December 29, 2020. All Driven Deliveries Shareholders will receive one share of Stem’s common stock for each share held. The shares of Stem trade under the symbol, STMH, on the OTCQX and, STEM, on the CSE, (“ Driven” or “ Driven Deliveries”) (OTCQB: DRVD) for shares of Stem.
DBA Driven by Stem (the “ Company” or “ Stem”) (OTCQX: STMH CSE: STEM), a leading omnichannel, vertically-integrated cannabis branded products and technology company with an integrated Delivery-as-a-Service (DaaS) platform, today announced the timeline and process for the exchange of all common shares of Driven Deliveries, Inc. 02, 2021 (GLOBE NEWSWIRE) - Stem Holdings, Inc. Consolidated Market Capitalization of US$112 Million Post-AcquisitionīOCA RATON, FL, Feb.
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