logo
Share SHARE
FONT-SIZE Plus   Neg

Hyperdynamics Announces 1-for-8 Reverse Split - Quick Facts

Oil and gas company Hyperdynamics Corp. (HDY) said Friday its Board has approved a 1-for-8 reverse stock split of its common stock that will take effect from July 1.

Hyperdynamics' common stock is scheduled to begin trading on a split-adjusted basis on the New York Stock Exchange when the market opens on July 1, under its existing ticker symbol, HDY, and under the new CUSIP number 448954 206.

When the reverse stock split becomes effective, every eight shares of issued and outstanding HDY common stock will be automatically consolidated into one issued and outstanding share, with no change in the par value per share. This will reduce the number of outstanding common shares of Hyperdynamics from about 168.4 million to nearly 21.1 million.

Proportionate voting rights and other rights of common stockholders will not be affected by the reverse stock split, other than as a result of the cashing out of fractional shares. Stockholders who would otherwise hold a fractional share of common stock will receive a cash payment in lieu of a fractional share.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
President Donald Trump has continued his assault on one of his favorite targets on Wednesday, lashing out at major media outlets in a series of posts on Twitter. Trump singled out the New York Times and the Washington Post in his tweets, describing the newspapers as "fake news." Christoph, born on-board a Spirit flight destined to Dallas from Fort Lauderdale airport, can celebrate all his forthcoming birthdays in life with a free travel on Spirit airline. Blue Apron Holdings Inc. has cut the expected price range for its initial public offering amid worries about the potential impact on the food retail sector of Amazon.com Inc.'s recent deal to buy grocery chain Whole Foods Market Inc. for $13.7 billion.
comments powered by Disqus
Follow RTT