SUNL - Sunlight Financial announces 1-for-20 reverse stock split

2023-08-18 16:51:26 ET

• Sunlight Financial ( NYSE: SUNL ) said on Friday that had approved a 1-for-20 reverse stock split of its common stock that will become effective on 11:59 PM ET, August 22.
• SUNL shares fell 2.4% in extended trading.
• SUNL added its common stock will begin trading on a split-adjusted basis on NYSE when the market opens on August 23.
• "The reverse stock split will reduce the number of shares of the Company’s Class A common stock issued and outstanding from approximately 86 million to approximately 4.3 million," SUNL said in a statement .
• According to SUNL, every 20 issued and outstanding shares of its Class C common stock, will be converted into share of its Class C common stock.

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