DWR Does 1-for-50 Reverse Stock Split

August 29, 2010  by in UnCategorized   

By Home Furnishings Business in Financial Reports on August 30, 2010 Multi-channel retailer Design Within Reach (Pink Sheets: DWRID) has approved a one-for-50 reverse stock split of its common stock.

The company's stock began trading on a split-adjusted basis Friday.

Upon the effectiveness of the reverse stock split, every 50 shares of the company's issued and outstanding common stock will automatically be combined into one issued and outstanding share of common stock without any change in the value of the shares. Following the completion of the reverse stock split, there will be about 5 million shares of common stock outstanding on a fully diluted basis.

Because of the split, the company's ticker symbol has temporarily changed to DWRID. After a 20-day trading period following the reverse stock split, the ticker symbol will revert to DWRI.

San Francisco-based Design Within Reach was founded in 1998.