Entorian Technologies Completes Reverse Stock Split
October 30 2009 - 8:00AM
Business Wire
Entorian Technologies Inc. (NASDAQ: ENTN), a leader in rugged,
mission-critical mobile and server computing solutions for use in
harsh, demanding environments, today announced that it has
completed a 1-for-12 reverse split of the company’s outstanding
shares of common stock effective October 30, 2009. Beginning today,
as a result of the reverse split, each 12 shares of common stock
were combined into one share of common stock. Entorian’s common
stock will trade on a split-adjusted basis under the temporary
NASDAQ ticker symbol “ENTND” until November 30, 2009, and then will
resume trading under the symbol “ENTN.”
The objective of the reverse stock split is to regain compliance
with NASDAQ’s $1 minimum bid rule. The total number of shares of
common stock outstanding (excluding treasury shares) has been
reduced from approximately 47 million shares to approximately 4
million shares. The number of common shares related to the
company’s convertible notes and stock options has been
proportionately adjusted to reflect the reverse split.
Under the terms of the reverse split, stockholders holding 12
shares or more of Entorian common stock at the close of business on
September 23, 2009 will receive one new Entorian share for every 12
shares held. Stockholders holding fewer than 12 shares will receive
cash consideration in lieu of fractional shares.
Stockholders will be sent instructions for exchanging their
existing stock certificates for new stock certificates, and for
receiving cash compensation in lieu of fractional shares.
Stockholders with shares in ‘book entry’ form at Computershare, or
who hold their shares with a broker, will have their shares
automatically converted into new shares and receive cash
compensation for fractional shares held.
For more information about this process, contact the company’s
transfer agent, Computershare, at 800-962-4284 and
www.computershare.com.
About Entorian Technologies
Entorian Technologies Inc. (NASDAQ: ENTN) is a leader in rugged,
mission-critical mobile and server computing solutions for use in
harsh, demanding environments through its subsidiary, Augmentix
Corporation. Its Augmentix-produced servers and mobile products
combine best‐in‐class technologies and standardized components from
industry leader Dell, with proven ruggedization methods from
Augmentix. These rugged systems are environmentally robust and
technologically advanced. For more information, go to
www.entorian.com and www.augmentix.com.
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