Comtech (COGO.OB) announced that its Board of Directors has authorized a reverse stock split in the range between one-for-two shares and one-for-three shares.

The exact ratio will be determined by management shortly before the effective date of the reverse split, which is expected to occur in the next two to three weeks.

The Board's action was taken as part of the company's ongoing efforts to effect a listing of its common stock on the Nasdaq Stock Market. Specifically, it is believed that the reverse stock split will enable the company to meet the $5.00 minimum bid price requirement for initial inclusion on Nasdaq.

LEAVE A REPLY

Please enter your comment!
Please enter your name here