Groupon Announces 1-for-20 Reverse Stock Split
June 10 2020 - 9:00AM
Business Wire
Groupon, Inc. (NASDAQ: GRPN) (“Groupon” or the “Company”)
announced today that the Company’s board of directors has approved
a reverse stock split of the Company’s common stock at a ratio of
1-for-20, following approval of the reverse stock split by the
Company’s stockholders at the Annual Meeting of Stockholders held
on June 9, 2020.
The reverse stock split will become effective at 5:00 p.m.
Eastern time on June 10, 2020. At the effective time, every 20
issued and outstanding shares of the Company’s common stock will be
converted and combined into one share of the Company’s common
stock, and a proportionate reduction will be made to the Company’s
number of authorized shares of common stock.
Beginning with the opening of trading on June 11, 2020, the
Company’s common stock will trade on the Nasdaq Global Select
Market on a split-adjusted basis under a new CUSIP number,
399473206. The Company’s trading symbol will continue to be
“GRPN.”
The reverse stock split affects all stockholders uniformly and
will not alter any stockholder’s percentage interest in the
Company’s common stock, except for adjustments that may result from
the treatment of fractional shares as described below.
No fractional shares will be issued as a result of the reverse
stock split. Instead, the Company’s transfer agent will aggregate
all fractional shares and sell them as soon as practicable after
the effective time of the reverse stock split at the
then-prevailing prices on the open market. Stockholders who would
have been entitled to a fractional share as a result of the reverse
stock split will receive a cash payment from the transfer agent in
an amount equal to their respective pro rata share of the total
proceeds of such sale.
About Groupon Groupon (NASDAQ: GRPN) is an experiences
marketplace that brings people more ways to get the most out of
their city or wherever they may be. By enabling real-time mobile
commerce across local businesses, live events and travel
destinations, Groupon helps people find and discover
experiences––big and small, new and familiar––that make for a full,
fun and rewarding life. Groupon helps local businesses grow and
strengthen customer relationships––resulting in strong, vibrant
communities. To learn more about Groupon’s community-building
efforts, please visit community.groupon.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20200610005139/en/
Investor Relations Contact: Jennifer Beugelmans
IR@groupon.com
Media Relations Contact: Nick Halliwell Press@groupon.com
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