Marin Software's Stockholders And Board Of Directors Approve Reverse Stock Split At A Ratio Of Not Less Than 1-For-4 And Not More Than 1-For-6, With The Exact Ratio To Be Set Within That Range At The Discretion Of The Board Of Directors
Portfolio Pulse from Benzinga Newsdesk
Marin Software Incorporated (NASDAQ:MRIN) announced the approval of a reverse stock split at a ratio of 1-for-6, effective April 12, 2024, with split-adjusted trading starting April 15, 2024. This action will reduce the outstanding common stock from approximately 18.4 million shares to about 3.1 million. The reverse stock split aims to consolidate shares and will not alter stockholders' ownership percentages. Marin's stock will continue trading on the Nasdaq under the symbol 'MRIN' but with a new CUSIP number.
April 05, 2024 | 8:01 pm
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Marin Software's reverse stock split at a 1-for-6 ratio will significantly reduce the number of outstanding shares from 18.4 million to approximately 3.1 million, aiming to consolidate shares without affecting ownership percentages.
Reverse stock splits often aim to increase the per-share price by reducing the number of shares, potentially making the stock more attractive to investors. However, the impact on the stock price can be neutral in the short term as the market adjusts to the new share structure. The unchanged ownership percentage indicates a neutral effect on individual investor positions.
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