Core Viewpoint - MacKenzie Realty Capital, Inc. has announced a 1-for-10 reverse stock split to increase its common stock price and meet Nasdaq listing requirements [1][2]. Group 1: Reverse Stock Split Details - The reverse stock split will take effect at 5:01 p.m. Eastern Standard Time on August 4, 2025, with trading on a split-adjusted basis starting August 5, 2025 [1]. - The split will convert ten existing shares into one new share, reducing the number of outstanding shares from approximately 16,760,978 to about 1,676,098 [2]. - Stockholders entitled to fractional shares will receive cash equivalent to the fractional amount multiplied by the closing price on August 1, 2025 [2]. Group 2: Administrative Aspects - Computershare, Inc. will serve as the exchange agent for the reverse stock split, and stockholders will not need to take action to receive their post-split shares [3]. - The CUSIP number for the company will change to 55453W501 effective at the time of the split [4]. Group 3: Company Overview - MacKenzie Realty Capital, Inc. is a West Coast-focused REIT, aiming to invest at least 80% of its total assets in real property, with a portfolio consisting of approximately 50% multifamily and 50% boutique class A office properties [5]. - The company has maintained a dividend payout every year since its inception and currently holds interests in 4 multifamily properties and 8 office properties, along with 2 multifamily developments [5].
MacKenzie Realty Capital Announces Effective Date for 1-for-10 Reverse Stock Split