Broadwind Energy Announces Reverse Stock Split to Maintain NASDAQ Listing
Broadwind Energy, Inc. (NASDAQ: BWEN) announced today that it intends to effect a reverse split of its common stock at a ratio of 1 post-split share for every 10 pre-split shares. The reverse stock split will become effective at 11:59 p.m. ET on Wednesday, August 22, 2012. Broadwind's common stock will continue to be traded on the NASDAQ Capital Market under the symbol "BWEN" and will begin trading on a split-adjusted basis when the market opens on Thursday, August 23, 2012. At an annual meeting of stockholders held on May 4, 2012, Broadwind's stockholders granted the Board of Directors the discretion to effect a reverse stock split of Broadwind's common stock through an amendment to its Certificate of Incorporation at a ratio of not less than 1-for-5 and not more than 1-for-10.
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.