NEWS: RS
Surf Air Mobility (NYSE: SRFM) has announced the terms of its previously disclosed 1-for-7 reverse stock split, effective August 19, 2024. The split aims to help the company regain compliance with NYSE's minimum bid price requirements. Key points include:
- Every seven shares will be reclassified into one new share
- No fractional shares will be issued; affected stockholders will receive cash payments
- The split won't change stockholders' percentage ownership or rights
- Exercise prices and share numbers for equity awards will be adjusted proportionally
- Post-split, approximately 12,826,529 shares of common stock will be outstanding
- The new CUSIP number will be 868927 203
- Every seven shares will be reclassified into one new share
- No fractional shares will be issued; affected stockholders will receive cash payments
- The split won't change stockholders' percentage ownership or rights
- Exercise prices and share numbers for equity awards will be adjusted proportionally
- Post-split, approximately 12,826,529 shares of common stock will be outstanding
- The new CUSIP number will be 868927 203
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