RMG Networks Holding, a digital signage company, said Tuesday it has completed its previously announced 1-for-4 reverse split of its outstanding common stock following the market close on Aug. 14.
As a result of the reverse stock split, every four pre-split shares of common stock outstanding have become one share of common stock. The reverse stock split reduced the number of shares of outstanding common stock to approximately 11.2 million shares from approximately 44.6 million shares. The reverse split also applies to common stock issuable upon the exercise of RMG’s outstanding warrants and stock options. RMG common stock will begin trading on a split-adjusted basis at market open Aug. 15. It will continue to trade on The Nasdaq Capital Market under the symbol RMGN, and will trade under a new CUSIP number.