Comscore to carry out reverse stock split

A reverse stock split consolidates the number of existing shares of stock held by shareholders into fewer shares.

In Comscore’s case, the reverse stock split will see the number of outstanding shares of common stock reduce from 95.1 million to 4.8 million, subject to adjustment for fractional shares.

The decision, which was approved by Comscore’s board on 12th December, will bring the company into compliance with Nasdaq’s $1 per share minimum bid price requirement for continued listing.

No fractional shares will be issued in connection with the split, and shareholders who would otherwise be entitled to a fractional share will receive a proportional cash payment.

Jon Carpenter, chief executive officer at Comscore, said: “While we are disappointed that market conditions led to this reverse split, we are encouraged by our recent performance as we continue to pursue clear financial, operational and strategic opportunities to deliver growth and value for our shareholders and clients.

“We expect to meet the 2023 financial guidance we published in November and see strong growth potential for 2024 and beyond.”