Turtle Beach (HEAR -6.1%) announces a 1-for-4 reverse split of its common stock.
The split, which is effective as of today's close, will reduce the number of outstanding shares from ~49.4M to ~12.4M.
Turtle Beach's trading symbol will remain HEAR.
"Today's reverse stock split will enable Turtle Beach to regain compliance with NASDAQ's continued listing standards regarding bid price and allow us to remain focused on furthering our position as the leader in console gaming headsets," says CEO Juergen Stark
Source: Press Release
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