LiveDeal Announces Reverse Stock Split
08 9월 2010 - 1:05AM
Business Wire
LiveDeal, Inc. (NASDAQ: LIVE), a provider of web-based customer
acquisition services for small businesses, announced today that,
effective as of the opening of trading this morning, the company
has completed a 1-for-10 reverse stock split. Accordingly, every 10
shares of the company’s common stock have been combined into one
share of common stock. Any fractional share that results from the
reverse stock split will be rounded to the next whole share.
The reverse stock split affects all of LiveDeal’s outstanding
common stock. In addition, the number of shares of common stock
that LiveDeal is authorized to issue was reduced to 10 million in
connection with the reverse stock split.
The impact of the reverse stock split will be reflected in the
company’s share price beginning today. LiveDeal’s common stock will
trade under the symbol “LIVED” for a period of 20 trading days as a
result of the reverse stock split. LiveDeal’s common stock will
also trade under a new CUSIP number.
LiveDeal’s shareholders of record will receive instructions from
its transfer agent, Registrar and Transfer Company, regarding the
procedures for exchanging their stock certificates in connection
with the reverse stock split. Shareholders are encouraged to
surrender their stock certificates in connection with the reverse
stock split. Those shareholders who hold their LiveDeal common
stock in “street name” will receive instructions from their broker
if they need to take any action in connection with the reverse
stock split.
The company’s Board of Directors approved the reverse stock
split to help LiveDeal regain compliance with the $1.00 minimum bid
price requirement for continued listing on the NASDAQ Capital
Market.
About LiveDeal, Inc.
LiveDeal provides local customer acquisition services for small
businesses to deliver an affordable way to extend their marketing
reach to local, relevant customers via the Internet. LiveDeal
delivers local search engine marketing (SEM) and custom website
products that combine leading technology with a strong partnership
model and an inside sales team to create an efficient platform
local businesses need to create and optimize their Internet search
advertising campaigns. LiveDeal partners with Google, Yahoo!, MSN
and others. LiveDeal is headquartered in Las Vegas, Nevada. For
more information, visit www.livedeal.com.
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