MRIN - Marin Software's stockholders approve 1-for-6 reverse stock split
2024-04-05 16:09:09 ET
- Marin Software's ( NASDAQ: MRIN ) stockholders voted to approve a proposal authorizing the Board of Directors to effect a reverse stock split of Marin’s outstanding shares of common stock at a ratio of not less than 1-for-4 and not more than 1-for-6.
- Stockholders also approved a proposal to reduce the number of authorized shares of Marin’s common stock from 142,857,143 to that number of shares equal to 142,857,143 multiplied by two times the stock split ratio.
- Marin’s Board of Directors has determined that the reverse stock split ratio will be 1-for-6.
- The reverse stock split is expected to take effect at 5:00 p.m. Eastern Time on April 12, 2024 and Marin expects that its common stock will trade on a split-adjusted basis on at the opening of trading on April 15, 2024.
- Source: Press Release