logo
Share SHARE
FONT-SIZE Plus   Neg

Capital Trust Announces 1-for-10 Reverse Stock Split - Quick Facts

Real estate finance company Capital Trust Inc. (CT) said Friday its board has approved a reverse stock split of its class A common stock at a ratio of 1-for-10.

In addition, the New York City-based company said it expects to change its name to Blackstone Mortgage Trust, Inc. and its stock ticker symbol to "BXMT" concurrently with the consummation of the reverse stock split.

The reverse stock split and name and ticker symbol changes are expected to take effect on May 6.

The stock split envisages that every 10 shares of issued and outstanding class A common stock will be converted into 1 share of class A common stock. In addition, at the market open on May 7, the class A common stock is expected to trade under the symbol "BXMT" and will be assigned a new CUSIP number: 09257W 100.

As a result of the reverse stock split, the number of outstanding shares of class A common stock will be reduced to about 2.93 million shares. The number of authorized shares and the par value per share will remain unchanged. No fractional shares will be issued in connection with the reverse stock split.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
The recent week marked the lull before the storm, with very few market moving economic numbers released during the week. However, the economic news flow picks up pace in the upcoming week, offering glimpses into every vehicle of economic growth, ranging from consumers to private sector activity to housing.... Life expectancy at birth in the U.S. is already lower than most other developed nations and is now projected to fall further behind by 2030, according to a new study. It also suggests that by 2030, national female life expectancy in South Korea could break the 90 year barrier. Department store chain J.C. Penney Co. Inc. on Friday reported a turnaround to profit in the fourth quarter as a slight decline in sales was more than offset by lower expenses. Adjusted earnings per share for the quarter beat analysts' expectations, while revenues slightly missed their estimates. Earlier today, J.C. Penny announced a plan to optimize its national retail operations.
comments powered by Disqus
Follow RTT