NEW YORK, April 23, 2013 (GLOBE NEWSWIRE) -- Voltari Corporation (Nasdaq:VLTC) ("Voltari") today announced the completion of a reverse stock split of the Company's outstanding shares of common stock at a reverse split ratio of one-for-ten (the "Reverse Stock Split"). On April 23, 2013, the Company filed with the Secretary of State of the State of Delaware a certificate of amendment to its Amended and Restated Certificate of Incorporation (the "Certificate of Amendment") to effect the Reverse Stock Split. The Certificate of Amendment became effective at 4:15 p.m. on April 23, 2013, at which time every ten shares of the Company's issued and outstanding common stock were automatically combined into one issued and outstanding share of the Company's common stock, without any change in the par value per share. No fractional shares are to be issued. The Company will directly pay each stockholder who would otherwise have been entitled to a fraction of a share an amount in cash equal to the closing sale price of its common stock, as quoted on the NASDAQ Capital Market ("NASDAQ") on April 23, 2013, multiplied by the fractional share amount.
Voltari Announces 1-for-10 Reverse Stock Split
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