CareMax (CMAX) has released an update.
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The Company announced a one-for-30 reverse stock split of the Class A Common Stock, approved by the Board, which is to take effect on January 31, 2024, at 11:59 p.m. Eastern Time. Shares will trade on a split-adjusted basis starting February 1, 2024. This will convert every 30 shares of existing Class A Common Stock into one share, with no fractional shares issued, but stockholders will receive rounding up to the nearest whole share instead. Accompanying adjustments will be made to the shares underlying the Company’s outstanding equity awards, warrants, and shares issuable under the equity incentive plan, along with the respective exercise or conversion prices.
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