Reverse Stock Split for Internap

Internap (IIP) will implement a 1-for-10 reverse stock split on July 10.

Rich Miller

June 27, 2006

1 Min Read
Data Center Knowledge logo

Network services provider Internap (IIP) says it will implement a 1-for-10 reverse split of its common stock for stockholders of record as of the close of business on July 10. Internap shares will begin trading on the American Stock Exchange on a split-adjusted basis on July 11. After trading for around 50 cents for much of last year, Internap shares have moved up to just over $1 a share in recent weeks.

The conversion price and number of shares that can be issued will be proportionately adjusted to reflect the split. Internap stockholders approved the reverse split via an amendment to the company's articles of incorporation during the annual stockholders meeting held on June 21.

Subscribe to the Data Center Knowledge Newsletter
Get analysis and expert insight on the latest in data center business and technology delivered to your inbox daily.

You May Also Like