Rentech Announces 1-for-10 Reverse Stock Split
04 August 2015 - 9:00PM
Business Wire
Rentech, Inc. (NASDAQ: RTK) today announced that it will effect
a 1-for-10 reverse stock split of its common stock. On August 20,
2015, each 10 shares of Rentech’s issued and outstanding common
stock and equivalents will be converted into 1 share of common
stock and will begin trading on a split-adjusted basis.
The reverse stock split will affect all issued and outstanding
shares of the Company's common stock, as well as common stock
underlying stock options, restricted stock units, warrants and
preferred stock outstanding immediately prior to the effectiveness
of the reverse stock split. The reverse stock split will
proportionally reduce the total number of shares outstanding from
approximately 230 million to approximately 23 million. Concurrent
with the reverse stock split, the authorized shares of common stock
will be reduced from 450 million to 45 million.
No fractional shares will be issued in connection with the
reverse stock split. Any fractional share of common stock that
would otherwise have resulted from the reverse stock split will be
converted into cash payments equal to such fraction multiplied by
the closing trading price of the common stock on August 19, 2015,
the last trading day immediately preceding the effective date of
the reverse stock split.
Rentech has chosen its transfer agent, Computershare Inc., to
act as exchange agent for the reverse stock split. Stockholders
holding their shares in book-entry form or through a bank, broker
or other nominee do not need to take any action in connection with
the reverse stock split, and will see the impact of the reverse
stock split automatically reflected in their accounts following the
effective date. Beneficial holders may contact their bank, broker
or nominee for more information. For those stockholders holding
physical stock certificates, Computershare will send instructions
for exchanging those certificates for shares held in book-entry
form or for new certificates, in either case representing the
post-split number of shares. Computershare can be reached at (855)
396-2084.
Rentech’s trading symbol, RTK, will not change as a result of
the reverse stock split. The Company’s common stock will begin
trading under the new CUSIP number 760112 201.
Additional information about the reverse stock split can be
found in the Company's definitive proxy statement filed with the
Securities and Exchange Commission on May 8, 2015, a copy of which
is available at www.sec.gov or at www.rentechinc.com under the SEC
Filings tab located at the Investors section of the website.
About Rentech, Inc.
Rentech, Inc. (NASDAQ: RTK) owns and operates wood fibre
processing, wood pellet production and nitrogen fertilizer
manufacturing businesses. Rentech offers a full range of integrated
wood fibre services for commercial and industrial customers around
the world, including wood chipping services, operations, marketing,
trading and vessel loading, through its subsidiary, Fulghum Fibres.
The Company’s New England Wood Pellet subsidiary is a leading
producer of bagged wood pellets for the U.S. heating market.
Rentech manufactures and sells nitrogen fertilizer through its
publicly-traded subsidiary, Rentech Nitrogen Partners, L.P. (NYSE:
RNF). Please visit www.rentechinc.com and www.rentechnitrogen.com
for more information.
Safe Harbor Statement
This press release contains forward-looking statements as
defined in the Private Securities Litigation Reform Act of 1995.
These statements are based on management’s current expectations and
actual results may differ materially as a result of various risks
and uncertainties. Other factors that could cause actual results to
differ from those reflected in the forward-looking statements are
set forth in the Company’s prior press releases and periodic public
filings with the Securities and Exchange Commission, which are
available via Rentech’s website at www.rentechinc.com. The forward-looking statements
in this press release are made as of the date of this press release
and Rentech does not undertake to revise or update these
forward-looking statements, except to the extent that it is
required to do so under applicable law.
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version on businesswire.com: http://www.businesswire.com/news/home/20150804005446/en/
Rentech, Inc.Julie Dawoodjee Cafarella, 310-571-9800Vice
President of Investor Relations and Communicationsir@rentk.com
Rentech, Inc. (NASDAQ:RTK)
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