BNED has completed their refinancing deal and announced that they will execute the planned 1-for-100 reverse stock split at the end of the day Tuesday, June 11. The move will give the company roughly 26.2 million shares outstanding, and will lift the stock price to an acceptable level to prevent delisting from the New York Stock Exchange. (As of Tuesday morning the stock trades for around 10 cents a share. That would equate to $10 a share after the reverse split.) Immersion Corporation, their new primary shareholder, should have something on the order of a 42 percent stake in the […]
