Core Viewpoint - Star Equity Holdings, Inc. announced a reverse stock split of its common stock at a ratio of 1-for-5, effective after market close on June 14, 2024, to comply with Nasdaq's minimum bid price requirement [1][5]. Company Overview - Star Equity Holdings, Inc. is a diversified holding company with two main divisions: Building Solutions and Investments [13]. - The Building Solutions division operates in modular building manufacturing, structural wall panel and wood foundation manufacturing, and glue-laminated timber manufacturing [3][10]. - The Investments division manages and finances the company's real estate assets and investment positions in private and public companies [14]. Reverse Stock Split Details - The reverse stock split will reduce the number of outstanding shares from approximately 15,848,202 to about 3,169,640 [9]. - No fractional shares or cash will be issued; owners of fractional shares will receive one full share of post-split common stock [9][12]. - All stock options and warrants will be proportionally adjusted following the reverse split [9]. Compliance and Approval - The reverse stock split was approved by the company's common stockholders on June 20, 2023, and by the Board of Directors on May 24, 2024 [5].
Star Equity Holdings Announces Reverse Stock Split