While some academics call a stock split
a non-event, Roger Perry, CEO of Rightline.
A stock split
occurs when a company, such as Exxon, Banc One or Mattel, announces that everyone who holds a share of its stock will receive additional shares absolutely free.
This would be accomplished through a 1-for-200 reverse stock split
of the Company's outstanding Class A Common Stock, followed immediately by a 200-for-1 forward stock split
Pink Sheets:IVTM) (the "Company") announced today that yesterday it filed (a) a Certificate of Amendment to its Certificate of Incorporation with the Secretary of State of the State of Delaware to consummate a 1-for-1,000 reverse split of the Company's common stock (the "Reverse Stock Split
") and (b) a Certificate of Amendment to its Certificate of Incorporation with the Secretary of State of the State of Delaware to consummate a 1,000-for-1 forward stock split
following the Reverse Stock Split
(the "Forward Stock Split
," and with the Reverse Stock Split
, the "Reverse/Forward Stock Split
SAN FRANCISCO -- MCF Corporation (AMEX:MEM) today announced that the Company will institute a reverse stock split
of its outstanding common stock at a ratio of 1-for-7 shares on Thursday, November 16, 2006.
The Company expects that the reverse stock split
will streamline the Bank's accounting, create greater flexibility for dividends from the Bank to the Company and eliminate an obsolete aspect of the Bank's capital structure.
The reverse stock split
and reincorporation were approved by shareholders at the Company's annual meeting held on June 28, 2006.
EasyLink Services Corporation (NASDAQ: EASY), a leading global provider of outsourced business process automation services that transform manual and paper-based business processes into efficient electronic ones, today announced that it has received shareholder approval for a 1 for 5 reverse stock split
that will go into effect on Monday, August 28th.
Nasdaq:INFO) today announced that it has filed an amendment to its Third Restated Articles of Incorporation that will effect a 1-for-4 reverse stock split
of the Company's outstanding common stock.
The reverse stock split
was approved by the Company's stockholders at the annual meeting of stockholders held on June 7, 2006.
NASDAQ: WAVX) announced that it has filed a preliminary proxy statement with the SEC for a special meeting to be held on July 24, 2006 seeking stockholder approval permitting the board to implement a reverse stock split
of Wave's common stock at a ratio of either 1:2, 1:3 or 1:4.
Nasdaq:VERT),a leading provider of on-demand supply management solutions, today announced it completed its debt financing and plans to effect a reverse stock split
on June 12, 2006.