Colorado biofuels company Gevo Inc. said Monday it will initiate a 1-for-15 reverse stock split effective as of the close of business, with trading resuming on Tuesday on the new, split-adjusted basis.
Shares of Gevo (Nasdaq: GEVO) closed at 17 cents Monday and have traded under $1 a share since the middle of May 2014.
The move was approved by the company’s stockholders as a special meeting on April 13, the Douglas County-based company said.
The reverse stock split will cut the number of outstanding…
Colorado biofuels company Gevo Inc. said Monday it will initiate a 1-for-15 reverse stock split effective as of the close of business, with trading resuming on Tuesday on the new, split-adjusted basis.
Shares of Gevo (Nasdaq: GEVO) closed at 17 cents Monday and have traded under $1 a share since the middle of May 2014.
The move was approved by the company’s stockholders as a special meeting on April 13, the Douglas County-based company said.
The reverse stock split will cut the number of outstanding…