KLR - Kaleyra falls on 1-for-3.5 reverse stock split
2023-03-06 16:56:39 ET
- Kaleyra ( NYSE: KLR ) said its Board of Directors had approved a 1-for-3.5 reverse stock split.
- Kaleyra's stock will trade on the New York Stock Exchange on a split-adjusted basis under the symbol "KLR."
- The primary goal of the reverse stock split is to increase the per share market price to meet the minimum $1 average closing price requirement for continued listing on the New York Stock Exchange.
- The reverse split will reduce the number of shares of the common from about 45.85M shares to about 13.1M shares.
- ( KLR ) falls ~2% after the bell.
- Press Release
For further details see:
Kaleyra falls on 1-for-3.5 reverse stock split