USEC’s stock stood at $6.65 per share at market close yesterday after hovering around $0.30 for weeks, a result of a 25-1 reverse stock split that went into effect yesterday. USEC shareholders approved the move last week, necessary to increase its share price in order to keep it listed on the New York Stock Exchange. The action reduced the number of authorized USEC shares of common stock from 250 million to 25 million, with the expected effect of increasing the price per share proportionately. In May 2012, USEC received a notice from the stock exchange after its share price fell below $1.00, triggering a warning from the Exchange that the company could be delisted if the average share price did not rise.
RadWaste Monitor Vol. 16 No. 21
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Morning Briefing
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March 17, 2014
USEC STOCK PRICE INCREASES AFTER REVERSE STOCK SPLIT
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