2023-08-18 06:38:53 ET
- WeWork ( NYSE: WE ) said on Friday that the flexible space provider is set to proceed with a 1-for-40 reverse stock split to regain compliance with NYSE's minimum closing price rule.
- The reverse stock split will be effective at 4:01 PM ET on Sep. 1.
- The reverse stock split involves its outstanding class A and class C shares.
- The event is expected to increase the company's per share trading price, and help the company regain compliance with the $1.00 per share requirement.
- WE shares were trading +0.06% pre-market.
- Source: Press Release
For further details see:
WeWork to proceed with 1-for-40 reverse stock split to regain compliance with NYSE rules