Rubico Sets 1-for-25 Reverse Split for Oct. 30 Nasdaq Open

Rubico Inc. has scheduled a 1-for-25 reverse split for Nasdaq’s open Friday, Oct. 30, as it seeks to raise its share price and maintain compliance with the exchange’s listing standards. Split-adjusted trading is scheduled to begin that day under ticker RUBI. Rubico’s 13,517,355 outstanding shares as of Oct. 28 are expected to become about 540,694. The final count will depend on cancellations of fractional shares. Holders entitled to fractional shares will receive cash calculated using their fractional entitlement and Nasdaq’s Oct. 29 closing price. The split will leave the number of authorized common shares and the $0.01 par value unchanged.

Source: TokenPost