COMPANY TO TERMINATE REGISTRATION OF ITS COMMON STOCK DALLAS, July 22, 2024 /PRNewswire/ -- Ashford Inc. (NYSE:AINC) ("Ashford" or the "Company"), today announced that at the Special Meeting of Stockholders held on July 22, 2024, the Company's stockholders voted to approve proposals to effect a 1-for-10,000 reverse stock split of the Company's common stock, which will be followed immediately by a 10,000-for-1 forward stock split, and to adopt a waiver on the prohibition on Rule 13e-3 transactions contained in Section 3.03 of the Investor Rights Agreement entered into as of November 6, 2019 by and among the Company, Archie Bennett, Jr., Monty J. Bennett and certain other parties. The last day of trading on the NYSE American of the Company's common stock will be July 26, 2024.  The reverse and forward stock splits will be effected on July 29, 2024 at 5:01 p.m. Eastern Time and 5:02 p.m. Eastern Time, respectively. As a result of the reverse stock split, each share of the Company's common stock held by a stockholder of record owning fewer than 10,000 shares of the Company's common stock in any one account immediately prior to the effective time of the reverse stock split will be converted into the right to receive $5.00 in cash, without interest, and such stockholders will no longer be stockholders of the Company. To be entitled to such cash payment, a stockholder must be a record holder of fewer than 10,000 shares immediately prior to the effective time of the reverse stock split. Investors who purchase fewer than 10,000 shares prior to the effective time of the reverse stock split and settle such purchases after the effective time shall not be entitled to such cash payment and instead their ...