Virgin Galactic to effect 1-for-20 reverse stock split
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Contributor since / Followers
Contributor since / Followers
7 months ago
- Virgin Galactic Holdings (NYSE:SPCE) on Wednesday announced that its Board of Directors has approved a 1-for-20 reverse stock split of the company’s common stock.
- The reverse stock split is expected to become effective on June 14, after the close of trading on NYSE.
- The company’s common stock is expected to commence trading on a split-adjusted basis when the market opens on June 17, under the existing trading symbol “SPCE.”
- The primary goal of the reverse stock split is to increase the per share market price of the company’s common stock to meet the minimum per share bid price requirement for continued listing on the NYSE.
- SPCE +0.96% after hours to $0.86.
- Source: Press Release