LAS VEGAS, Nov. 28, 2016 (GLOBE NEWSWIRE) -- Live Ventures Incorporated (Nasdaq:LIVE) ("Live Ventures" or the "Company"), a diversified holding company, announces today that it will effect a 1-for-6 reverse split of its outstanding common stock, which will be effective for trading purposes as of the commencement of trading on Thursday, December 8, 2016. A primary purpose of the reverse split is to broaden the appeal of the Company's stock to include institutional investors following the closing of the Company's second major acquisition in the past 18 months. Management continues to believe the Company's stock is undervalued and the Company continues to repurchase its shares in the market. The reverse split was not undertaken to facilitate any financing transactions nor for NASDAQ compliance reasons, as the Company is in full compliance with all relevant NASDAQ standards. "The decision to effect the reverse split was made in consultation with investors, advisors and our Board of Directors. We believe the resulting increase in our share price will broaden our appeal to include institutional stockholders, who typically have not been able to invest in us because of the recent price level of our stock," said Jon Isaac, CEO of Live Ventures Incorporated. "We believe that broadening our traditionally retail investor base to include institutional investors will create a more robust market for our stock, which should translate into a stock price that will reflect our company's increasing value." Trading of the Company's common stock on The Nasdaq Capital Market will continue, on a post-split basis, with the opening of the markets on December 8, 2016, under the existing trading symbol "LIVE" and with a new CUSIP number: 538142 308. As a result of the reverse stock split, every six shares of the Company's pre-reverse split common stock will be combined and reclassified into one share of common stock. Further, the reverse stock split will not affect proportionate voting rights and other rights of common stockholders. Stockholders who would otherwise hold a fractional share of common stock will receive an increase to their common stock as the common stock will be rounded up to a full share. No fractional shares will be issued in connection with the reverse stock split.