Hippo 1-for-25 reverse stock split to become effective at end of day

Hippo Holdings announced that it has filed a Certificate of Amendment to its Certificate of Incorporation with the Secretary of State of the State of Delaware to effect the previously announced 1-for-25 reverse stock split of the company's common stock and a corresponding adjustment to its authorized capital stock. The reverse stock split and corresponding capital stock adjustment will become effective at 11:59 p.m. Eastern Daylight Time on September 29. The company's common stock will begin trading on a split-adjusted basis when the markets open on Friday, September 30, under the existing trading symbol "HIPO" and a new CUSIP number. As a result of the reverse stock split, every 25 shares of the company's issued and outstanding common stock will automatically be converted into one share of issued and outstanding common stock. All outstanding warrants to purchase the company's common stock will be adjusted as a result of the reverse stock split in accordance with the terms of the warrants. In particular, every 25 shares of Hippo common stock that may be purchased pursuant to such warrants will represent one share of Hippo common stock that may be purchased pursuant to such warrants, and the exercise price per share will be $287.50, which equals the product of 25 multiplied by $11.50, the exercise price per share prior to the reverse stock split, the company noted.