LPPFusion has carried out its first stock split, splitting all “B shares” 10 for 1. This means that all shareholders will now have ten shares for each one they previously owned. At the same time, the company has increased its valuation by 10%, making the new share price $22. These changes will be effective immediately with the new Regulation D offering that is now available to accredited investors. The same terms will apply to the 2024 Wefunder crowdfunding drive for all investors, which will be starting soon. Existing shareholders will receive new electronic share certificates, reflecting the stock split.
These decisions were taken unanimously by the LPPFusion Board of Advisors at their meeting January 9th and were implemented by LPPFusion Director and President Eric Lerner on February 8th. Lerner made the appropriate amendments to the LPPFusion incorporation papers (in its original name of Lawrenceville Plasma Physics, Inc.), increasing the limit of the issued shares to 4 million shares.
The Board decided on the 10-1 split mainly because lower-priced shares tend to be easier to market to small and medium investors, even though the split does not affect the fraction of the company shares that can be purchased for a given amount of money. The minimum investment through Wefunder will be reduced to the minimum $100 that the Wefunder site allows. (Wefunder allows fractional share purchases.) The Board decided to increase the valuation of the company to $72,345,000 based on maintaining a constant ratio of valuation to cash actually invested and also because of the substantial advances made in our research, in particular the completion of the new switch development and the resultant increase in peak current produced by 50%.
