VIEW - View eyes stock spilt to comply with Nasdaq listing rules
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View ( NASDAQ: VIEW ) said Thursday it plans to hold a special meeting of stockholders to seek approval of a reverse stock split of its class A common stock, in order to regain compliance with the Nasdaq Listing Rules.
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The reverse stock split would not affect any stockholder's percentage ownership interests or proportionate voting power, except with respect to the treatment of any fractional shares to which a stockholder may be entitled.
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In addition, the reverse stock split would not affect the total number of shares of common stock that View is authorized to issue pursuant to its charter, unless View seeks stockholder approval to amend its charter accordingly.
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On February 13, 2023, the company received a notice from Nasdaq stating that it was not in compliance with Listing Rule 5450(a)(1) because the bid price for the company’s common stock had closed below $1.00 per share for the previous 30 consecutive business days.
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View eyes stock spilt to comply with Nasdaq listing rules