This Day On The Street
Continue to site right-arrow
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
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Syntroleum Effects 1-For-10 Reverse Stock Split

TULSA, Okla., April 15, 2013 (GLOBE NEWSWIRE) -- Syntroleum Corporation ("Syntroleum" or the "Company") (Nasdaq:SYNM) announced today that it effected a 1-for-10 reverse split of its common stock on April 11, 2013. As previously disclosed in the Form 8-K filed March 25, 2013, the Company's Board of Directors elected to effect a reverse stock split of the Company's common stock at a ratio of 1-for-10. The Company's stockholders had voted on June 28, 2012 to grant discretion to the Board of Directors to effect a reverse stock split of the Company's common stock at any ratio between 1-for-2 and 1-for-10, with the final decision to be determined by the Company's Board of Directors in its discretion.

The reverse stock split became effective after the close of trading on Thursday, April 11, 2013. The Company's common stock began trading on a split adjusted basis on the Nasdaq Capital Market ("Nasdaq") at the opening of trading on Friday, April 12, 2013. Syntroleum's common stock will continue trading on Nasdaq under its ticker symbol "SYNM" but the Company will trade under its new CUSIP number.

As a result of the reverse stock split, every ten shares of Syntroleum's old common stock have been converted into one share of Syntroleum's new common stock. Fractional shares resulting from the reverse stock split will be settled by cash payment from the Company's transfer agent, American Stock Transfer & Trust Company, LLC ("AST"). The amount of the cash payment will be based on a pre-split price of $.405 per share. Receipt of the cash payment is conditional upon submission of a letter by the Company's stockholders to AST and, where shares are held in certificated form, the surrender of all old certificate(s).

AST has sent or will send instructions to stockholders of record regarding the exchange of certificates for common stock and the process for receiving a cash payment in lieu of fractional shares.

1 of 2

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
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
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 18,132.70 -81.72 -0.45%
S&P 500 2,104.50 -6.24 -0.30%
NASDAQ 4,963.5270 -24.3630 -0.49%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs