XpresSpa Announces 1-for-3 Reverse Stock Split
The reverse stock split is scheduled to take effect after the market closes on
No fractional shares will be issued in connection with the reverse stock split. Stockholders who would otherwise hold a fractional share of the Company’s Common Stock will receive payment in cash in lieu of any such resulting fractional shares of Common Stock as the post-reverse split amounts of Common Stock will be rounded down to the nearest full share. Such cash payment in lieu of a fractional share of Common Stock will be calculated by multiplying such fractional interest in one share of Common Stock by the closing trading price of the Company’s Common Stock on the trading day immediately following the effective date of the reverse stock split, and rounded to the nearest cent.
Stockholders of record will be receiving information from the Company’s transfer agent,
Source: XpresSpa Group, Inc.