CYRN - Cyren announces 1-for-20 reverse share split

Cyren (NASDAQ:CYRN) plunged 12.7% premarket after it plans to effect a 1-for-20 reverse split of its ordinary shares, effective Feb.8. The shares are expected to commence trading on split-adjusted basis on Feb.9, on market opening. This will increase the company's authorized share capital by up to NIS 216M to NIS 240M. Post reverse split, the company is authorized to issue 80M shares, the par value per share of the shares will be NIS 3.00 and the authorized share capital of the company will be NIS 240M.

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Cyren announces 1-for-20 reverse share split