CNK - National CineMedia announces reverse stock split

2023-08-03 13:43:51 ET

• Reverse Stock Split Fulfills Obligations Under Restructuring Support Agreement and NCMI 9019 Settlement
• National CineMedia ( NASDAQ: NCMI ) has effectuated a 1-for-10 reverse stock split of its common stock.
• The common stock will begin trading on a split-adjusted basis at the opening of the market on August 4, 2023.
• The reverse stock split will reduce the number of public shares from 174,191,498 to approximately 17,419,150.
• The reverse stock split will enable the Company to fulfill its obligations under the restructuring support agreement between the Company, NCM LLC and certain of NCM LLC’s secured lenders.
• The reverse stock split is also expected to regain compliance with the $1.00 minimum average closing price requirement of Nasdaq.
• Source: Press Release

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