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Euroseas Ltd. Announces Completion of Reverse Stock Split

Written by Customer Service on . Posted in Public Companies.

MAROUSSI, ATHENS, Greece, Dec. 19, 2019 (GLOBE NEWSWIRE) — Euroseas Ltd. (NASDAQ: ESEA, the “Company” or “Euroseas”), an owner and operator of container carrier vessels and provider of seaborne transportation for containerized cargoes,  announced today that it has completed a 1-for-8 reverse stock split, effective at the close of trading on December 18, 2019. The Company’s common shares begin trading on a split-adjusted basis on December 19, 2019. 
The reverse stock split was undertaken with the objective of meeting the minimum $1.00 per share requirement for listing the Company’s common stock on the Nasdaq Capital Market.Fractional shares will be rounded up to the next full share. Each common shareholder will hold the same percentage of the outstanding common shares immediately following the reverse stock split as that shareholder did immediately prior to the reverse stock split except for minor adjustment due to the above-said rounding up of the fractional shares. The reverse stock split was authorized by the Company’s shareholders on June 21, 2019.Visit our website www.euroseas.gr

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