Timothy owns 980 shares of Countess Corp., which is priced at $14.41 per share. The company...
Timothy owns 980 shares of Countess Corp., which is priced at $14.41 per share. The company plans a 1-for-4 reverse stock split. How many shares will Timothy own and what will the share price be after the reverse stock split?
Homework Answers
Calculation of number of shares Timothy own:
Number of shares= 980*1/4= 245 shares
So Timothy will own 245 shares
Calculation of share price:
Share value before split= 980*14.41= 14121.8
Share price after stock split= share value before split/number of shares= 14121.8/245= 57.64
Share price after reverse stock spit is $57.64
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