WeWork Stockholders Approved Amendment To Charter To Effect Reverse Stock Split Of Class A And Class C Common Stock At A Ratio In Range Of 1-For-10 At Annual General Meeting
Portfolio Pulse from Benzinga Newsdesk
WeWork stockholders approved an amendment to the company's charter to effect a reverse stock split of Class A and Class C common stock at a ratio in the range of 1-for-10 at the annual general meeting.
June 16, 2023 | 8:27 pm
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NEUTRAL IMPACT
WeWork's stockholders approved a reverse stock split of Class A and Class C common stock at a 1-for-10 ratio, which may impact the stock price.
The approval of the reverse stock split at a 1-for-10 ratio will consolidate WeWork's outstanding shares, potentially impacting the stock price. However, the short-term impact on the stock price is uncertain as it depends on market perception and other factors.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100