Robin Energy to Execute 1-for-15 Reverse Split, Cuts Shares to 0.6M
RBNE•Robin Energy’s board approved a one-for-15 reverse stock split effective 11:59pm ET July 8, combining 15 shares into one and reducing outstanding shares from 8.7 million to 0.6 million. Post-split shares will trade on Nasdaq under the same symbol with CUSIP Y73118120 beginning July 9.
1. Reverse Stock Split Mechanics
On July 8 at 11:59pm ET, Robin Energy will implement a one-for-15 reverse split of its common shares. The action will consolidate every fifteen shares into one, reducing total issued shares from 8.7 million to 0.6 million, and assign CUSIP Y73118120 for post-split shares.
2. Shareholder Impact and Trading
Trading on Nasdaq will commence on a split-adjusted basis under the same ticker beginning July 9. No fractional shares will be issued; holders entitled to fractions will receive cash payments based on the July 8 closing price multiplied by the fractional interest.
