Nuverra Environmental Solutions (NYSE:NES), a leading provider of full-cycle environmental solutions to energy and industrial end-markets, reminds investors that a previously approved and announced 1-for-10 reverse split of its common stock is effective today at the open of the U.S. markets.
Shares of Nuverra common stock will begin trading on a split-adjusted basis today on the New York Stock Exchange under the symbol NES. The new CUSIP number for the common stock is 67091K203. With the effect of the reverse stock split, every ten (10) shares of common stock outstanding automatically combine into one (1) new share of common stock with no change in par value per share. The number of shares outstanding is reduced from approximately 260 million to 26 million.
No fractional shares will be issued in connection with the reverse stock split. Stockholders who would otherwise hold a fractional share of Nuverra common stock will receive a cash payment in lieu of such fractional share.
Holders of shares of common stock held in book-entry form or through a bank, broker or other nominee do not need to take any action in connection with the reverse split, and will see the impact of the reverse split automatically reflected in their accounts. Beneficial holders may contact their bank, broker or nominee for more information.
For those few shareholders who hold physical stock certificates, the Company's transfer agent, American Stock Transfer & Trust Company, will send instructions for exchanging those certificates for new certificates representing the post-split number of shares. American Stock Transfer & Trust Company can be reached at 800-937-5449.
About Nuverra Environmental Solutions, Inc.
Nuverra Environmental Solutions is among the largest companies in the United States dedicated to providing comprehensive and full-cycle environmental solutions to customers in energy and industrial end-markets. Nuverra focuses on the delivery, collection, treatment, recycling, and disposal of restricted solids, water, wastewater, used motor oil, spent antifreeze, waste fluids and hydrocarbons. The Company continues to expand its suite of environmentally compliant and sustainable solutions to customers who demand stricter environmental compliance and accountability from their service providers.