WeWork Announces Stock Split to Retain NYSE Listing
WeWork is proceeding with a 1-for-40 reverse stock split of its Class A and Class C Common Stock to increase its per-share trading price and regain compliance with the New York Stock Exchange’s $1.00 per share minimum closing price requirement.
The reverse stock split will be effective on September 1, 2023, with the post-split trading of Class A Common Stock starting on September 5, 2023. This move aims to enhance the stock’s market value without affecting the company’s ongoing operations. The reverse stock split combines 40 existing shares into one share, with fractional shares being compensated in cash.
Emily Fu is Content Director of Connect Commercial Real Estate, where she covers the east coast markets, including New York, Boston & New England, and DC & Mid-Atlantic markets. She produces daily news stories as well as longer-form content, ranging from Q&As to thought-leadership pieces. She also writes feature stories for Connect Money.
With previous stints at Reuters, Seeking Alpha, and Commercial Observer, Emily has covered the finance side of the commercial real estate industry, technology, media, telecom (TMT), and fashion. She attended the Columbia Graduate School of Journalism and currently resides in Manhattan.