Recovery Energy Announces One-for-Four Reverse Common Stock Split for Purpose of Qualifying for NASDAQ or NYSE Amex Listing Requirements
Recovery Energy, Inc. (OTC: RECV) announces that its board and shareholders have approved a reverse stock split at an exchange ratio of 1-for-4. The number of authorized shares of common stock will not change. The reverse stock split will be effective at the opening of trading on October 12, 2011.
The stock will trade with a “D” next to the symbol, “RECVD” for 30 calendar days to signify the reverse stock split has occurred. The Company expects that the reverse stock split will help it meet the listing requirements for its common shares on NASDAQ or another national exchange such as the NYSE Amex.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.