The Car and Truck Fleet and Leasing Management Magazine

AutoTradeCenter, Inc. Announces A Reverse Stock Split

September 02, 2004

AutoTradeCenter, Inc. has announced that its board of directors has approved a 1-for-100 reverse stock split of its common and preferred stock. The reverse split, effective as of August 2, was approved by a majority of the company's common shareholders and a majority of the company's preferred shareholders. The company's common stock will continue to trade on the "pink" sheets, effective August 3, 2004, under the temporary trading symbol "AUTCD.PK" for a period of time before reverting back to "AUTC.PK". As a result of the reverse stock split, every 100 shares of AutoTradeCenter, Inc. will be combined into one share of each stock class. The reverse stock split affects all the company's common stock, preferred stock, stock options, warrants, and other equity-linked instruments outstanding immediately prior to the effective date of the reverse stock split. The reverse stock split will reduce the total number of fully diluted outstanding shares, on an as converted basis, from approximately 1.31 billion shares to approximately 13.1 million shares. Fractional shares, resulting from the reverse stock split, will be purchased by the company, based on the price determined by the company's board of directors.
Twitter Facebook Google+


Please note that comments may be moderated. 
Leave this field empty:

Fleet Incentives

Determine the actual cost of owning and running a vehicle in your fleet. Compare vehicles by class and model.

Sponsored by

Larry Giddens was the director of fleet operations for R.J. Reynolds Tobacco Co. in Winston-Salem, NC.

Read more

Up Next

More From The World's Largest Fleet Publisher