ARMOUR Residential REIT, Inc Announces Effectiveness of One-For-Five Reverse Stock Split
Portfolio Pulse from Benzinga Newsdesk
ARMOUR Residential REIT, Inc. (NYSE:ARR) has announced the effectiveness of its one-for-five reverse stock split. The number of outstanding shares of ARMOUR's common stock has been reduced from approximately 245,031,959 to approximately 49,006,392. The authorized number of shares of common stock has been reduced from 450,000,000 to 90,000,000. The par value of ARMOUR's common stock remains at $0.001 per share after the reverse stock split.
October 02, 2023 | 10:06 am
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ARMOUR Residential REIT, Inc. has implemented a one-for-five reverse stock split, significantly reducing the number of outstanding and authorized shares. This could potentially increase the stock's price in the short term.
A reverse stock split reduces the number of shares in circulation, which can often lead to an increase in the stock's price as each share now represents a larger portion of the company. However, it does not change the overall market capitalization of the company. This move could be seen as a positive signal by the market, potentially leading to a short-term increase in the stock's price.
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