Seven Arts Entertainment Announces a 1-for-70 Reverse Split
Seven Arts Entertainment (NASDAQ: SAPX) announced today a 1-for-70 reverse split of its common stock effective as of 4:01p.m. EDT (immediately after the close of the market today). The Company's new CUSIP number is 81783N 201. By virtue of the reverse split, every seventy shares of the Company's outstanding common stock will be combined and converted into one share of new common stock with resulting fractional shares rounded up to the next whole share. Seven Arts also announced that it will proportionately reduce the number of its authorized shares of common stock.
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