Delcath Systems Inc (DCTH)

[Gator328]

The preferred shares are also only voting shares if/when they are converted, at .153/share. So why would the owners of the preferred stock convert at .153 if doing so was going to significantly tank the stock lower than the conversion price?

You're also not mentioning the massive turnover in shares since the last vote. What makes you so sure that those who voted for the RS are still holding, or are still in favor after seeing the last short squeeze after the no vote.

For what it's worth, I actually support the reverse split. Short term it sucks and it'll give the shorts new ammo, but long term the company needs the maneuvering that a RS offers. I think there will be FDA news or a buyout well before any additional splits.

Look at HLS. They did a reverse split in 2006 and the stock didn't get crushed. As long as the data is good and comes sooner than later, it doesn't matter if there's 50m shares at $2 or 500M at .20.