Robin Energy (RBNE) said Tuesday it will implement a 1-for-15 reverse stock split, effective late Wednesday, with shares to begin trading on a split-adjusted basis Thursday.
Under the reverse split, shares outstanding will be reduced to about 600,000 from around 8.7 million shares previously, according to the company.
Shares of Robin Energy were down 20% in early Tuesday trading.
Price: 0.54, Change: -0.12, Percent Change: -18.32
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