From the article:
"Sirius can now perform a reverse split of 10-to-1 to 50-to-1 shares any time before the end of next year. Sirius shares are trading at $0.14 today, and need to beat $1 before mid-January, or Nasdaq could de-list them."
I wonder what this means for Howard and the gang. A reverse split is never a good thing for heavy shareholders, which I have to imagine and Howard et al are. That is a major dilution, and comes right our of their pockets.
Sirius XM Shareholders Authorize Reverse Split (SIRI)
Bottom line - I gladly pay my subscription fees, but this does not bode well for Bubba negotiations and the general health of Sirius. Curious what you guys think...
"Sirius can now perform a reverse split of 10-to-1 to 50-to-1 shares any time before the end of next year. Sirius shares are trading at $0.14 today, and need to beat $1 before mid-January, or Nasdaq could de-list them."
I wonder what this means for Howard and the gang. A reverse split is never a good thing for heavy shareholders, which I have to imagine and Howard et al are. That is a major dilution, and comes right our of their pockets.
Sirius XM Shareholders Authorize Reverse Split (SIRI)
Bottom line - I gladly pay my subscription fees, but this does not bode well for Bubba negotiations and the general health of Sirius. Curious what you guys think...