- DigitalBridge ( NYSE: DBRG ) board approved a $200M share repurchase program , effective immediately, which includes the authorization to repurchase both common and preferred shares.
- The company also announced its plan to effectuate a reverse stock split in which one Class A common equity share will be issued in exchange for every four existing Class A common equity shares in Q3 of 2022.
- It plans to announce the effective date of the reverse stock split at least 10 days prior in accordance with NYSE notification requirements.
- Shares trading 8.2% higher premarket.
For further details see:
DigitalBridge launches $200M in share repurchase authorization, reverse stock split effective in Q3