Audacy Implements 1-For-30 Reverse Stock Split
Reverse Split
AUDACY’s reverse stock split is here, and the company has executed a 1-for-30 reverse split TODAY (6/30). The move was approved at the MAY 24th shareholders’ meeting in order to bring the stock up to compliance with NEW YORK STOCK EXCHANGE rules for listing.The reverse split reduces the number of outstanding shares of Class A stock from about 137.5 million to 4.6 million and Class B shares from 4 million to 135,000. The company’s class A stock closed at 7 cents/share on THURSDAY.
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