5-for-1 Reverse Split for Service Properties Trust Effective July 6
SVC sits 55% above its 52-week low of $1.13.
Summary
Service Properties Trust has set July 6 as the effective date for its previously announced 5-for-1 reverse stock split. This follows the initial announcement of the reverse split on June 25 and comes amidst the company's recent Q1 net loss and a highly dilutive equity offering. The reverse split is a critical step for traders to adjust their positions and models, as it will significantly alter the per-share price and outstanding share count. Trading on a split-adjusted basis is expected to begin on July 7.
At the time of this announcement, SVC was trading at $1.76 on NASDAQ in the Real Estate & Construction sector, with a market capitalization of approximately $1.1B. The 52-week trading range was $1.13 to $3.08. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.