- SAExploration (OTC:SAEX -18.6%) plummeted to a worst-ever $0.41 after saying it is executing a 20-to-1 reverse split of its outstanding common shares, which will begin trading on a split-adjusted basis at the market open on Sep. 17.
- Shareholders on Aug. 14 authorized the company's board to conduct a reverse stock split at its discretion.
- SAEX shares have plunged 80% YTD.