Courtesy of Benzinga.
Magnetek, Inc. announced today that it has filed a Certificate of Amendment to the Company’s Restated Certificate of Incorporation with the Secretary of State of the State of Delaware to effect a 1-for-10 reverse stock split of its common stock that will become effective at 12:01 a.m. Eastern Standard Time on December 5, 2011. The reverse stock split, which was approved by the Company’s stockholders on November 9, 2011, will reduce the number of shares of the Company’s outstanding common stock, par value $0.01 per share, from approximately 32.8 million to approximately 3.28 million. The reverse stock split-adjusted shares of the Company’s common stock will begin trading at the start of New York Stock Exchange (“NYSE”) trading on December 5, 2011. Magnetek’s common stock will continue trading on the NYSE under its ticker symbol “MAG,” but the Company will be issued a new CUSIP number: 559424403.
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