CytRx Corp (CYTR) Approves One-for-Seven Reverse Split

Article Stock Quotes (1) Comments (0)

CytRx Corporation (Nasdaq: CYTR), announced a reverse split of its common stock at a ratio of 1-for-7. CytRx’s common stock will begin trading on NASDAQ on a split-adjusted basis when the market opens on May 16, 2012. The Company’s Board of Directors unanimously approved the reverse split following stockholder approval, which was announced at the Company’s 2012 Annual Meeting of Stockholders held May 14, 2012.

The reverse split will reduce the number of outstanding shares of the Company’s common stock from approximately 149.1 million shares to approximately 21.3 million shares. Fractional shares as a result of the reverse stock split will be rounded up to the next whole number. Proportional adjustments will be made to CytRx’s outstanding warrants and stock options. The Company's authorized shares will remain unchanged.

---

Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW

---

*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here

---

---

You May Also Be Interested In

• Saia, Inc. (SAIA) Announces 3-for-2 Stock Split
• Macy's (M) Posts Q1 EPS of 55c; Comps Up 3.8%; Boosts Dividend 25%, Raises Buyback
• Invacare Corp. (IVC) Declares $0.0125 Quarterly Dividend; 0.3% Yield

Create E-mail Alert Related Categories

Stock Splits

Add Your Comment

Name

Subject

Body

Share on Facebook

Verification
can't see the text?
click here to refresh the image.
what's this?