SeaChange International, Inc. Announces 1-For-20 Reverse Stock Split
Portfolio Pulse from Benzinga Newsdesk
SeaChange International, Inc. (NASDAQ: SEAC) has announced a 1-for-20 reverse stock split, effective May 19, 2023. The split will reduce the number of outstanding shares from approximately 51 million to 2.5 million. Proportionate adjustments will be made to the exercise price and number of shares issuable upon the exercise of options and other equity incentive plans.
May 22, 2023 | 12:52 pm
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SeaChange's 1-for-20 reverse stock split will reduce outstanding shares from 51M to 2.5M, potentially impacting the stock price.
The reverse stock split will reduce the number of outstanding shares, which may impact the stock price. However, the overall market capitalization remains the same, and the effect on the stock price is uncertain. Investors should monitor the stock's performance following the split.
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