Frontier Communications completes 1-for-15 reverse stock split
Frontier Communications completed a 1-for-15 reverse stock split on July 10, opening at $16.35 per share, with around 175 million shares outstanding.
The company announced the split March 28 when it filed paperwork with the Securities and Exchange Commission, and the move was approved by shareholders and the board of directors May 10. Its market capitalization was around $1.22 billion as of 10:15 a.m. July 10, down more than 60 percent year to date.
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