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Stock to begin trading at split-adjusted price May 7 under temporary symbol “SSETD”
StarStream Entertainment, Inc. (OTCQB:SSET), announces a reverse split of its outstanding common stock at a ratio of 1-for-3. The reverse stock split will be effective with FINRA (the Financial Industry Regulatory Authority) and in the marketplace at the open of business May 7, 2014, whereupon the stock will begin trading on a split-adjusted basis.
The company’s trading symbol on May 7, 2014 will temporarily change to “SSETD” and continue for a period of 20 business days from that date, after such time, the symbol will revert to the original symbol of “SSET”.
As a result of the reverse stock split, the Company’s issued and outstanding shares of common stock will decrease to approximately 17.9 million post-split shares from approximately 53.7 million pre-split shares.
As a result of the reverse stock split, each three shares of common stock held by each stockholder will be converted automatically into one share of common stock, with fractional shares rounded up to the next whole share. No fractional shares will be issued, and no cash or other consideration will be paid.
Stockholders who are holding their shares in electronic form at their brokerage firms do not have to take any action as the effects of the reverse stock split will automatically be reflected in their brokerage accounts. No further action is required for stockholders holding paper certificates. Certificates representing pre-split holdings will be deemed to represent the stockholder’s post-split holdings until such time as the stockholder presents the certificate to the Company’s transfer agent, whose contact information appears below.
