Cumulus Reverse Stock Split Approved In Stockholder Vote
October 12, 2016 at 8:15 AM (PT)
CUMULUS MEDIA, INC.'s stockholders have approved the company's 1-for-8 reverse stock split, designed to help the company regain compliance with NASDAQ listing requirements.
The plan was approved in a vote TODAY (10/12) and will be effective at 5p (ET) TODAY, with the split-adjusted Class A common stock expected to begin trading on the NASDAQ Capital Market on THURSDAY (10/13). The company's stock symbol remains CMLS and the new CUSIP number will be 231082603.