FXCM Inc. (NYSE:FXCM), a leading online provider of forex trading and related services, today announced the effectiveness of its previously disclosed one-for-ten reverse stock split.
Beginning with the opening of trading on Thursday, October 1, 2015, the company’s common stock will trade on the NYSE on a reverse split-adjusted basis under the same symbol “FXCM,” but with a new CUSIP of 302693205. As a result of the reverse stock split, the number of outstanding shares of FXCM’s common stock will be reduced from approximately 53,726,664 shares to approximately 5,372,666 shares.
No fractional shares were issued in connection with the reverse stock split. Instead, each stockholder holding fractional shares will receive, in lieu of such fractional shares, cash in an amount the closing sale price per share of our common stock as reported on the NYSE on the last trading day preceding the effective date of the reverse stock split multiplied by the number of shares of pre-split common stock held by the stockholder that would otherwise have been exchanged for such fractional share.
Stockholders of record will receive information from American Stock Transfer & Trust Company, LLC, the company’s transfer agent, regarding their stock ownership and, if applicable, cash in lieu of fractional share payments. Stockholders who hold their shares in brokerage accounts or “street name” are not required to take any action in connection with the reverse stock split.
To see the official announcement, click here.