RMG Announces Completion of Reverse Stock Split
August 15 2017 - 7:00AM
RMG Networks Holding Corporation (NASDAQ:RMGN), or RMG, a global
leader in technology-driven visual communications, announced today
that it completed the previously-announced 1-for-4 reverse split of
its outstanding common stock following the market close on August
14, 2017. RMG common stock will begin trading on a split-adjusted
basis at market open on August 15, 2017.
RMG's common stock will continue to trade on The
Nasdaq Capital Market under the symbol “RMGN” and will trade under
a new CUSIP number of 74966K 300. As a result of the reverse stock
split, every four pre-split shares of common stock outstanding have
become one share of common stock. The reverse stock split reduced
the number of shares of RMG's outstanding common stock from
approximately 44.6 million shares to approximately 11.2 million
shares. The reverse split also applies to common stock issuable
upon the exercise of RMG’s outstanding warrants and stock
options.
RMG’s transfer agent, Continental Stock Transfer
& Trust Company, which is also acting as the exchange agent for
the reverse split, will provide instructions to shareholders with
certificated shares regarding the process for exchanging share
certificates. Shareholders with book-entry shares or who hold their
shares in "street name" through a bank, broker, or other nominee
will not need to take any action. Any fractional shares of common
stock resulting from the reverse stock split will be rounded up to
the nearest whole post-split share and no shareholders will receive
cash in lieu of fractional shares.
Additional information about the reverse stock
split can be found in RMG’s Current Report on Form 8-K being filed
today with the Securities and Exchange Commission (SEC), a copy of
which will be also available at www.sec.gov or in the Investor
Relations section of RMG’s website at www.rmgnetworks.com.
© 2017 RMG Networks Holding Corporation. RMG,
RMG Networks and its logo are trademarks and/or service marks of
RMG Networks Holding Corporation.
About RMGRMG (NASDAQ:RMGN) goes
beyond traditional communications to help businesses increase
productivity, efficiency and engagement through digital messaging.
By combining best-in-class software, hardware, business
applications and services, RMG offers a single point of
accountability for integrated data visualization and real-time
performance management. The company is headquartered in Dallas,
Texas, with additional offices in the United States, United Kingdom
and the United Arab Emirates. For more information, visit
www.rmgnetworks.com.
Contact:
Investor
Brett Maas/Rob Fink
646-536-7331/646-415-8972
ir@rmgnetworks.com
or
Media
Gloria Lee
972-744-3958
gloria.lee@rmgnetworks.com
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