Hyperdynamics announced that its Board of Directors has approved a 1-for-8 reverse stock split of its common stock that will take effect with the beginning of trading on July 1. Hyperdynamics' common stock is scheduled to begin trading on a split-adjusted basis on the New York Stock Exchange when the market opens on July 1 under its existing ticker symbol, HDY, and under the new CUSIP number 448954 206. When the reverse stock split becomes effective, every eight shares of issued and outstanding HDY common stock will be automatically consolidated into one issued and outstanding share, with no change in the par value per share. This will reduce the number of outstanding common shares of Hyperdynamics from approximately 168.4M to approximately 21.1M.
- Investment & Company Information
- reverse stock split
- common stock
- New York Stock Exchange