LTX-Credence Corporation (LTXC)

[trade2much]

JER: LTXC- seems like you have that nailed. *Other than reducing the O/S or raising the price I don't see a good reason for an R/S the Debt to Equity is good and PEG is great, COH is good and Debt is minimal.These fundamentals say it is doing well http://finance.yahoo.com/q/ks?s=LTXC+Key+Statistics.

Not seeing the actual reason for what is spelled out below.
Can you enlighten me? THe new price should only be $6+ are they changing exchanges and need it as a requirement? TIA


MILPITAS, Calif., Sept. 30, 2010 (GLOBE NEWSWIRE) -- LTX-Credence Corporation (Nasdaq:LTXC - News) 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.