BELLEVUE, Wash.-Wireless software and application provider InfoSpace Inc. announced that its shareholders approved a 1-for-10 reverse stock split.
“We expect the reverse split authorized by today’s vote to raise the per-share trading price of InfoSpace stock and address the issue of compliance with the Nasdaq Stock Market’s listing maintenance standard regarding minimum bid prices as well as help position us to achieve our goal of stock trading levels that meet the criteria of institutional holders,” said Ed Belsheim, president and chief operating officer of InfoSpace.
