BlueLinx to Seek Stockholder Approval of 1:10 Reverse Stock Split

BlueLinx Holdings Inc. BXC today announced that the Company's Board of Directors has approved a 1-for-10 reverse stock split of the Company's common stock, and plans to seek stockholder approval of the reverse stock split at its 2016 annual stockholders' meeting in an effort to meet the minimum per share market price requirements for continued listing on the New York Stock Exchange. The time, date, location, and other details regarding the annual stockholders' meeting will be communicated to stockholders at a later date in the Company's annual proxy materials. The Company believes that a reverse stock split, which is likely to result in a higher per share price and a corresponding lower number of total shares issued and outstanding at the time of implementation, should help increase the marketability of its stock to a broader range of potential new investors.  In addition, the reverse stock split should enable the Company to attain the minimum $1.00 per share bid price for its common stock required by the New York Stock Exchange. The reverse stock split would not affect any stockholder's percentage ownership interest or proportionate voting power existing See full press release