This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

ADPT Corporation Changes Name To Steel Excel Inc. And Completes Reverse/Forward Stock Split

ADPT Corporation (Other OTC: ADPT.PK) (the “Company”) announced today that it has changed its name from ADPT Corporation to Steel Excel Inc. The Company has applied for a new ticker symbol for its shares of common stock for trading on the Pink Sheets. Until such time as the new ticker symbol is effective, shares of the Company’s common stock will continue to trade under its existing ticker symbol.

The Company also announced that it has completed its previously announced reverse stock split of its common stock at a ratio of 1-for-500 (the “Reverse Split”) and a forward stock split of its common stock at a ratio of 50-for-1 (the “Forward Split,” and together with the Reverse Split the “Reverse/Forward Split”). Following the Reverse/Forward Split, which was effective after the close of business on October 3, 2011, stockholders holding 500 or more of old shares of the Company’s common stock have become entitled to one new share of the Company’s common stock in exchange for 10 of their old shares. Such stockholders have also become entitled to a cash payment for any fractional shares resulting from such exchange, which they will receive, together with the new shares, upon surrendering their old shares to the Company’s transfer agent, Registrar and Transfer Company. Following the Reverse Split, stockholders holding less than 500 old shares of the Company’s common stock have become entitled to a cash payment in exchange for their old shares. The cash payment that each cashed out stockholder or remaining stockholder is eligible to receive is based upon such stockholder’s pro rata share of the total net proceeds received in the sale of the aggregated fractional shares by the Company’s transfer agent at prevailing prices on the open market. This stock sale may take several days to complete. For more information regarding the Reverse/Forward Split, please refer to the Proxy Statement relating to the Company’s stockholder meeting held on May 25, 2011 that was previously mailed to stockholders.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,034.93 +208.63 1.17%
S&P 500 2,100.40 +19.22 0.92%
NASDAQ 4,994.6020 +62.7870 1.27%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs