Wheels Up Experience Board Approves 1-For-10 Reverse Stock Split Of Class A Common Stock
Portfolio Pulse from Benzinga Newsdesk
Wheels Up Experience's board has approved a 1-for-10 reverse stock split of its Class A common stock, effective after the close of trading on June 7, 2023. The stock will trade on a reverse split-adjusted basis on the NYSE under the ticker symbol 'UP' starting June 8, 2023.
June 01, 2023 | 8:42 pm
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Wheels Up's 1-for-10 reverse stock split will take effect on June 7, 2023, and the stock will trade under the ticker 'UP' on the NYSE starting June 8, 2023.
The reverse stock split will reduce the number of outstanding shares, which may increase the stock price and improve liquidity. However, the overall market value of the company remains unchanged, and the short-term impact on the stock price is uncertain. The news is highly relevant to Wheels Up as it directly affects its stock, and it is important for investors to be aware of the upcoming change.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100