Finance & Investing | Capital Markets | Reverse Stock Split
Extraction Gets Green Light for Reverse Stock Split
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Extraction Oil & Gas reported that its shareholders have approved a reverse stock split, according to its recent SEC filing. The ranges are 1-for-10 and 1-for-200.
At the annual shareholder meeting, shareholders voted to approve
- an amendment to the Company’s certificate of incorporation to permit the Company to effect a reverse stock split of the Company’s issued and outstanding common stock, par value $0.01 per share, at a ratio that will be determined by the Board and that will be within a range of 1-for-10 and 1-for-200, if the Board determines, in its sole discretion, at any time prior to the first anniversary of the Annual Meeting, that the Reverse Stock Split is in the best interests of the Company and its stockholders
- an amendment to the Company’s certificate of incorporation to reduce the number of authorized shares of Common Stock by a ratio equal to 1-for-two-thirds of the denominator of the Reverse Stock Split ratio determined by the Board
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