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Spectrum Group International (OTC Pink: SPGZ) has completed a 1:10 reverse stock split, affecting shareholders with fewer than 10 shares, who will receive $875 per pre-split share. For 20 business days, the stock will trade under SPGZD before reverting to its original symbol SPGZ. Post-split, approximately 2,100 shares remain outstanding. Stockholders will receive information from American Stock Transfer & Trust Company regarding their shares and cash payments. Spectrum Group specializes in numismatics, paper currency, and collectibles across North America, Europe, and Asia.
Spectrum Group International (OTC Pink: SPGZ) announced a 1:10 reverse stock split approved by 57% of its shareholders. This split means that stockholders with fewer than 10 shares will receive $875 per pre-split share instead of fractional shares. The reverse stock split aims to reduce the number of outstanding shares to approximately 2,100. The company is awaiting financial regulatory clearance to implement this change. Spectrum Group specializes in numismatics and collectibles, with operations in North America, Europe, and Asia.
Spectrum Group International (OTC Pink: SPGZ) seeks shareholder consent for a 1:10 reverse stock split. Stockholders with fewer than 10 shares will receive $875 cash per share instead of fractional shares. The record date for the consent is July 22, 2021, with a deadline for responses set for September 3, 2021. If approved, the company expects to have around 2,100 shares outstanding post-split. Compliance with regulatory requirements will follow the approval process.