Official Corporate Action from Moomoo
Dear Customer,
You are receiving this notice because you hold Meta Materials (MMTLP) securities.
Our custodian was notified by Meta Materials (MMTLP) that they intend to issue a spin-off on a 1-for-1 basis of Next Bridge Hydrocarbons, Inc. shares.
The record date for this dividend is currently listed as December 12, 2022, and the shares are set to be distributed on December 14, 2022.
PLEASE NOTE:
Meta Materials intends to cancel MMTLP shares immediately after the spin-off, and the Next Bridge Hydrocarbons, Inc. shares will be non-transferrable and non-tradable.
Shortholders:
Should your account be in a borrow position after the close of business on December 8, 2022, you will be short a security for which there is no market to cover. In addition, there is potentially no market to cover moving forward. At this time, the only way to avoid this is to cover your short position.
Longholders:
Should your account be the owner of record past December 8, 2022, you will own shares of Next Bridge Hydrocarbons, Inc. shares that are non-transferrable and non-tradable. The only way to avoid this is to sell MMTLP any time prior to market close on December 8, 2022.
If shares of Meta Materials are sold after December 8, 2022 but prior to the cancellation date, sellers will be responsible for coordinating title ownership to new owner(s).
For additional information regarding this merger please read the company’s announcement:
https://metamaterial.com/meta-materials-inc-board-of-directors-approves-planned-completion-of-the-spin-off-of-next-bridge-hydrocarbons-inc/
https://metamaterial.com/meta-materials-inc-board-of-directors-approves-planned-completion-of-the-spin-off-of-next-bridge-hydrocarbons-inc/
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
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Bluezingy : so wheres my TORCH dividends?!??!
silentcyferOP Bluezingy: for every MMTLP you have, you will be given 1:1 exchange for Next Bridge Hydrocarbon shares. there are no cash dividends distributed in this action.
Shadow_Walker : Feel like iit's a scam, the new bridge is non tradable which means u ccan't buy or sell so your stock is practically useless
Bluezingy silentcyferOP: do u know wat is TRCH?
Bluezingy Shadow_Walker: EXACTLY!
Tom_Jerry : Different broker will have different due date to sell MMTLP? Can we still able to sell our shares on 12/12 4pm (before market closed)?
Shadow_Walker Bluezingy: Not sure if I can sell this cause for moomoo u can't even buy mmtlp lmao
Shadow_Walker : Will try to see if can sell tonight, I'm getting out of this scams
silentcyferOP Bluezingy: bro... I've been holding since TRCH days as well... holding both MMAT and MMTLP since last year... if this situation is not in your favour then just sell your position and free yourself from this burden
Shadow_Walker Tom_Jerry: Before market close should be yes but after nope, I recommend getting out cause the new bridge cannot be traded which means it is just a stock for show
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