Courtesy of Benzinga.
EMCORE Corporation (Nasdaq: EMKR) announced today that its Board of Directors has approved a one for four reverse stock split of EMCORE common stock. The Reverse Stock Split was approved by EMCORE’s shareholders at its June 14, 2011 annual meeting. The Reverse Stock Split will become effective following the filing of an amendment to EMCORE’s corporate charter.
EMCORE has set February 15, 2012, as the record date for the Reverse Stock Split and anticipates that EMCORE common stock will begin trading on the NASDAQ Global Market (“Nasdaq”) on a split adjusted basis at the opening of trading on February 16, 2012. Nasdaq may append a “D” to the end of EMCORE’s current trading symbol to indicate the Reverse Stock Split, but the trading symbol would revert to “EMKR” after approximately twenty trading days. In addition, EMCORE common stock will trade under a new CUSIP number following the effectiveness of the Reverse Stock Split.
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