Reverse Cut up
AUDACY’s reverse inventory break up is right here, and the corporate has executed a 1-for-30 reverse break up TODAY (6/30). The transfer was authorized on the MAY twenty fourth shareholders’ assembly with the intention to convey the inventory as much as compliance with NEW YORK STOCK EXCHANGE guidelines for itemizing.
The reverse break up reduces the variety of excellent shares of Class A inventory from about 137.5 million to 4.6 million and Class B shares from 4 million to 135,000. The corporate’s class A inventory closed at 7 cents/share on THURSDAY.
