2023-06-08 16:27:18 ET
- Offerpad Solutions ( NYSE: OPAD ) said on Thursday that the residential real estate platform will effect a 1-for-15 reverse stock split of its class A and class B shares to regain compliance with NYSE rules.
- The reverse stock split is effective June 12, 5:00 PM ET.
- The split-adjusted class A shares will open for trading on NYSE on June 13 under the trading symbol OPAD. The new CUSIP number for the class A shares will be 67623L 307.
- The company's shareholders had approved the reverse stock split at the June 8 annual meeting.
- The move is intended to increase the per share trading price of the company's class A shares to satisfy NYSE's continued listing requirements.
- OPAD shares were trading +1.58% post-market.
- Source: Press Release
For further details see:
Offerpad to effect 1-for-15 reverse stock split to regain compliance with NYSE rules