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: Quote) 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

Quick Facts

Editors Pick
Online retail giant Amazon.com Inc. (AMZN) is reportedly in talks to buy luxury online fashion retailer Net-a-Porter. The news of acquisition was first reported by Women's Wear Daily, which said the deal would be completed for about 2 billion euros, indicating the biggest acquisition yet by Amazon.... Tim Cook, the CEO of tech giant Apple Inc., in an interview said he intends to give away all his wealth to charity. Cook, in an interview to Fortune, said he plans to donate all his wealth to philanthropic projects after paying for his 10-year old nephew's college education. According to Fortune,... Is it a 'personal life crisis' that led the Germanwings' co-pilot Andreas Lubitz to deliberately lowering the plane carrying 149 people to French Alps mountain? Police is investigating to find evidences to prove this suggestion.
comments powered by Disqus
Follow RTT