LTX-Credence Announces Effectiveness of Reverse Stock Split
01 October 2010 - 7:00AM
LTX-Credence Corporation (Nasdaq:LTXC) today announced that its
previously announced one-for-three reverse stock split became
effective as of 5:00 p.m., Eastern time, on September 30, 2010. The
reverse stock split will be effective for trading purposes at the
opening of the market on October 1, 2010. Due to the reverse stock
split, LTX-Credence's common stock will now trade under a new CUSIP
number, 502403 207. In addition, the common stock will temporarily
trade under the symbol LTXCD for 20 trading days, after which time
the symbol will revert to LTXC.
As a result of the reverse stock split, each outstanding share
of LTX-Credence common stock was automatically changed into
one-third of a share of common stock. Also, as previously
announced, the number of authorized shares of LTX-Credence common
stock was fixed on a post-split basis at 150,000,000 in connection
with the reverse stock split.
No fractional shares will be issued as a result of the reverse
stock split. Holders of common stock who would otherwise receive a
fractional share of common stock pursuant to the reverse stock
split will receive cash in lieu of the fractional share.
Computershare Trust Company, N.A. is the exchange agent for the
reverse stock split and will distribute a letter of transmittal to
record holders with instructions for the surrender and exchange of
old stock certificates and for receiving cash in lieu of fractional
shares, if applicable. Stockholders who hold their shares in
"street name" will be contacted by their banks or brokers with any
instructions.
About LTX-Credence Corporation
LTX-Credence is a global provider of ATE solutions designed to
deliver value through innovation enabling customers to implement
best-in-class test strategies to maximize their profitability.
LTX-Credence addresses the broad, divergent test requirements of
the wireless, computing, automotive and entertainment market
segments, offering a comprehensive portfolio of technologies, the
largest installed base in the Asia-Pacific region, and a global
network of strategically deployed applications and support
resources. Additional information can be found at www.ltxc.com.
CONTACT: LTX-Credence Corporation
Rich Yerganian
781.467.5063
rich_yerganian@ltxc.com
Ltx-Credence Corp. (MM) (NASDAQ:LTXCD)
Historical Stock Chart
From Aug 2024 to Sep 2024
Ltx-Credence Corp. (MM) (NASDAQ:LTXCD)
Historical Stock Chart
From Sep 2023 to Sep 2024
Real-Time news about Ltx-Credence Corp. (MM) (NASDAQ): 0 recent articles
More LTX-Credence Corporation News Articles