TGC - Tengasco and Riley Exploration - Permian announces reverse stock split on merger closure

In expectation of the closing of an earlier announced merger between Tengasco (TGC) and Riley Exploration Permian, the companies announced that Tengasco will effect a 1-for-12 reverse stock split of its outstanding common stock.Reverse stock split is expected to be effective Mar.1.Merger closure expected on Feb.26 whereby Tengasco will change its name to Riley Exploration Permian and its common stock will trade on NYSE from Mar.1 on a post reverse stock split basis under symbol, "REPX".Tengasco trades 27% down premarket.

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Tengasco and Riley Exploration - Permian announces reverse stock split on merger closure