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MetroLink prepared for public financing with reverse stock split. (MetroLink Group Inc.)
MetroLink prepares for public financing with reverse stock split
In a move aimed at preparing for public financing, The MetroLink Group Inc.'s board of directors last week approved a five-for-one reverse stock split for the company's non-trading shares.
The Farmers Branch telecommunications company took the action to stem its tide of outstanding shares, which conceivably could have ballooned past the 41 million plateau had all option and warrant rights granted to investors in recent months been exercised.
The split reduces the company's current number of outstanding, non-trading shares from 26.9 million to about 5.4 million and leaves its 1.2 million …
