REDWOOD CITY, Calif.-Openwave Systems Inc. announced its board of directors has approved a one-for-three reverse split of its common stock.
The reverse stock split will be effective Oct. 21, and Openwave’s common stock will begin trading under the split adjustment when the market opens Oct. 22. For a period of 20 trading days beginning Oct. 22, Openwave’s common stock will trade on a post-split basis under the trading symbol “OPWVD” as an interim symbol to denote its new status. After this 20-trading day period, Openwave’s common stock will resume trading under the symbol “OPWV.”
The company’s stock was down about 3 percent following the news to about $4.39 per share.
