Phoenix Co.'s (PNX) Approves 1-for-20 Reverse Split
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The Phoenix Companies, Inc. (NYSE: PNX) today announced a 1-for-20 reverse stock split of Phoenix common stock.
Phoenix anticipates the reverse stock split will be effective after the close of all trading on August 10, 2012, and Phoenix common stock will begin trading on a split adjusted basis on the New York Stock Exchange (NYSE) at the opening of trading on August 13, 2012.
When the reverse stock split becomes effective, every 20 shares of issued and outstanding Phoenix common stock will be automatically combined into one issued and outstanding share of common stock. This will reduce the number of outstanding shares of Phoenix common stock from 116.3 million to 5.8 million. Phoenix common stock will continue trading on the NYSE under the trading symbol “PNX” but will trade under a new CUSIP number.
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Phoenix anticipates the reverse stock split will be effective after the close of all trading on August 10, 2012, and Phoenix common stock will begin trading on a split adjusted basis on the New York Stock Exchange (NYSE) at the opening of trading on August 13, 2012.
When the reverse stock split becomes effective, every 20 shares of issued and outstanding Phoenix common stock will be automatically combined into one issued and outstanding share of common stock. This will reduce the number of outstanding shares of Phoenix common stock from 116.3 million to 5.8 million. Phoenix common stock will continue trading on the NYSE under the trading symbol “PNX” but will trade under a new CUSIP number.
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