Steel Partners Holdings Abandons Reverse/Forward Unit Split
Portfolio Pulse from Benzinga Newsdesk
Steel Partners Holdings has decided to abandon its previously announced reverse/forward unit split, which was scheduled to become effective on January 11, 2024. The reverse/forward unit split involved a 1-for-12,500 reverse unit split of its common units, immediately followed by a 12,500-for-1 forward unit split.
January 10, 2024 | 10:32 pm
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POSITIVE IMPACT
Steel Partners Holdings (SPLP) has abandoned the reverse/forward unit split, which may lead to relief among investors who were concerned about the potential complexity and implications of such a corporate action.
The cancellation of the reverse/forward unit split removes the uncertainty and potential confusion associated with this corporate action. Investors might view this decision positively as it maintains the status quo and avoids the potential dilution or other unintended consequences that can accompany such splits.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100