THQ Attempting Reverse-Split Shares In Order To Stay On NASDAQ, Although Company Last Traded At 61 Cents

Posted on May 28 2012 - 5:20am by Editorial Staff

The gaming company THQ filed a notice with the U.S. SEC on May 25 for a June 29 stockholder’s meeting, where company will discuss and ask its stockholders to allow the company to reverse split of the company’s common stock – an important step which will avoid the company to delist the stock from NASDAQ, reports Games International Industry.

Now how this condition comes in front of the company, in order to be listed on NASDAQ, stocks need to have a value greater than $1 per share while THQ’s stock fell under that level less year, and NASDAW sent a notice back in January this year that company is having 180 days to bring the stock per share value above $1 before official delisting on July 23. The company last traded at 61 cents.

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