CPST 1-20 Capstone Turbine AH Nas open 11/9
Capstone Turbine -7.2%, executing 1-for-20 reverse split
Nov 6 2015, 17:16 ET | About: Capstone Turbine Corporation (CPST) | By: Jason Aycock, SA News Editor Contact this editor with comments or a news tip
Microturbine system maker Capstone Turbine (NASDAQ:CPST) -- now trading at an all-time low -- planned to execute a 1-for-20 reverse split as of 4:30 p.m. today.CEO Darren Jamison said maintaining the company's listing on Nasdaq was important, and several customers and vendors were concerned, "as they were mistakenly equating share price to overall solvency." The company has a market cap of $72M.Shares closed down 7.2% today to $0.20. The company will begin trading an a split-adjusted basis Monday on the same ticker symbol but a new CUSIP. Every 20 shares are being converted into one, with fractional shares rounded up.After the move, the company will have 17.3M shares of common stock outstanding.
The greatest deception men suffer is from their own opinions.
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