Tuesday, December 11, 2012

Altair Nanotechnology To Execute 1:6 Stock Split

Altair Nanotechnologies (ALTI) announced it is going to execute a 1:6 stock split (note: this is a reverse stock split). The company needs to get its share price above a buck, but this isn't the first time they've given this try. Altairnano executed a 1:4 stock split on 02010.11.16. ALTI closed yesterday (02012.10.10) at $0.50. 52-week range: $0.40 - $1.00.

~70 million shares split 1:6 implies ~11.67 million shares post-split. The approximate float of 27.4 million shares shrinks to ~4.6 million shares. The $0.50 stock price becomes $3.00.

"We are continuing to build upon these recent successes and believe 2013 will bring much stronger financial performance. Maintaining our listing on the Nasdaq Capital Market is important to our current shareholders and should help us attract a broader range of investors to the company," said CEO Alexander Lee.

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