Did some research and it looks like the wording on
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Posted On: 03/03/2019 11:49:01 PM
Did some research and it looks like the wording on Reverse Stock split proposals is fairly standard...even the "stock split ratio up to"., except of course they are not quite as extreme as 1:500!!
Came across this company, symbol ATIS that is voting on a R/S up to 1:18, this week. When it was announced on Feb. 5 the stock was trading at around $.35, now it's $.29..not a severe drop. They are already on the Nasdaq so I'm wondering why they are doing the R/S except I suppose to milk more money out of shareholders. If you think OWC has fallen from grace, this stock was as high as $39 in 2016...ouch!
https://www.sec.gov/Archives/edgar/data/94972...stries.htm
Similar type of wording as OWC:
Required Vote
The affirmative vote of holders of a majority of the outstanding shares of Common Stock as of the Record Date, is required for approval of this proposal. Therefore, abstentions and broker non-votes will have the same effect as votes against this proposal.
Came across this company, symbol ATIS that is voting on a R/S up to 1:18, this week. When it was announced on Feb. 5 the stock was trading at around $.35, now it's $.29..not a severe drop. They are already on the Nasdaq so I'm wondering why they are doing the R/S except I suppose to milk more money out of shareholders. If you think OWC has fallen from grace, this stock was as high as $39 in 2016...ouch!
https://www.sec.gov/Archives/edgar/data/94972...stries.htm
Similar type of wording as OWC:
Required Vote
The affirmative vote of holders of a majority of the outstanding shares of Common Stock as of the Record Date, is required for approval of this proposal. Therefore, abstentions and broker non-votes will have the same effect as votes against this proposal.
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