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Oracle Corp’s (NYSE: ORCL)...

Oracle Corp (NYSE: ORCL) falls down to its knees, share dropped over 12.15%...

RTX Corp (NYSE: RTX)...

RTX Corp (NYSE: RTX) experienced a notable decline of -7.22%, amounting to $6.03...

GameStop Corp. (NYSE:GME) Quarter...

GameStop Corp. (NYSE: GME) to announce its second quarter fiscal 2023 results after...

Advanced Micro Devices (NASDAQ:AMD)...

Shares of Advanced Micro Devices (NASDAQ:AMD) drops 0.38% in afterhours in last trading...
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American Virtual Cloud Technologies, Inc. (NASDAQ:AVCT) Plunges on Reverse Stock Split Decision

Shares of American Virtual Cloud Technologies, Inc. (NASDAQ:AVCT) plunges over -22.94% to $2.30 in pre trading session on Monday as the firm has announced a 1-for-15 reverse stock split of its issued and outstanding common stock. The Reverse Stock Split will become effective on September 30, 2022, upon the filing of an amendment to the Company’s amended and restated certificate of incorporation with the Delaware Secretary of State, and the Company’s common stock is expected to begin trading on a split-adjusted basis when the market opens on October 3, 2022. The Company’s common stock will continue to trade under the ticker “AVCT” on the Nasdaq Capital Market. Following the Reverse Shares Split, the new CUSIP number for the common stock will be 030382204.

As previously disclosed, at the Company’s annual meeting of stockholders held on May 24, 2022, stockholders voted to approve three alternative amendments to the Company’s Charter to effect a Reverse Stock Split of the Company’s common stock at a ratio of either 1-for-5, 1-for-10, or 1-for-15, with such ratio, as well as the implementation and timing of such Reverse Stock Split, to be determined by the Company’s board of directors. Following that, the board of directors adopted a 1-for-15 reverse stock split.

As a result of the Reverse Stock Split, each share of common stock issued and outstanding immediately prior to the Effective Time will be automatically reclassified as and converted into one-fifteenth (1/15) of a share of common stock. The Reverse Stock Split will effects all stockholders evenly and will not change any stockholder’s percentage participation in the Company’s equity, save to the extent that the Reverse Stock Split results in a stockholder holding a fractional share. There will be no fractional shares issued as a result of the Reverse Stock Split. Stockholders who would otherwise be entitled to a fractional share will instead be entitled to cash from the Company’s transfer agent, Continental Stock Transfer and Trust Company.

Oracle Corp’s (NYSE: ORCL) Cloud Business Faces Headwinds: What Lies Ahead

Oracle Corp (NYSE: ORCL) falls down to its knees, share dropped over 12.15% or $15.21 to trade at $111.50 in pre trading session on...

RTX Corp (NYSE: RTX) Updates 2023-2025 Outlook amid Engine Part Challenge

RTX Corp (NYSE: RTX) experienced a notable decline of -7.22%, amounting to $6.03 per share, bringing its current trading price to $77.45. The company,...

GameStop Corp. (NYSE:GME) Quarter Report: Resilience amidst Market Turbulence

GameStop Corp. (NYSE: GME) to announce its second quarter fiscal 2023 results after the market closes today. Shares were slightly down in the pre-trading...

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Virgin Orbit (NASDAQ: VORB) Plans to Use Chapter 11 Procedure To Increase Value For Its Company

Shares of Virgin Orbit Holdings Inc. (NASDAQ: VORB) persist its gain in pre trading session as jumps over 50% in previous session as the company's U.S. subsidiaries, a capable supplier of space launches, declared that it has started a...

Teck Resources Limited (NYSE: TECK) Submits Proxy Circular, Supporting Documents for 2023 Meeting

Teck Resources Limited (NYSE: TECK) inches up in early session on Tuesday as the company announces that the management proxy circular and supporting documents for its annual and extraordinary shareholder meeting scheduled for April 26, 2023 have been submitted....

Broadcom Inc. (NASDAQ:AVGO) Soars After Britain Will Probe Its Acquisition of VMware (NYSE:VMW)

Broadcom Inc. (NASDAQ: AVGO) surges over 1.2% in pre trading session on Wednesday as the Britain declared it will thoroughly look into Broadcom's acquisition of VMware, Inc. (NYSE: VMW) after the US chipmaker made no quick commitments in response...

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