Fathom Digital announces 1-for-20 reverse stock split

Fathom Digital Manufacturing Corp. announced its Board of Directors approved a 1-for-20 reverse stock split of the company’s common stock that will become effective after the close of market trading on September 28, 2023. The reverse stock split was approved by the company’s stockholders on July 11, 2023 at the company’s annual meeting of stockholders, with authorization to determine the final ratio having been granted to the company’s Board of Directors. At the effective time of the reverse stock split, every 20 shares of issued and outstanding common stock will be combined and reclassified into one issued and outstanding share of common stock. Once effective, the reverse stock split will reduce the current number of issued and outstanding shares of the company’s Class A common stock from approximately 70.1 million to approximately 3.5 million. Additionally, at the effective time, every 20 issued and outstanding shares of the company’s Class B common stock, which is not listed on the New York Stock Exchange, will be combined and reclassified into one share of the company’s Class B common stock.