Aurora Cannabis (ACB) has announced a 1-for-12 reverse stock split, effective date of Monday May 11, 2020.
As of Monday, May 11th, shareholders will hold 1 share of Aurora Cannabis (ACB) for every 12 shares previously held. A reverse stock split consolidates a company’s shares into fewer total outstanding shares. A reverse stock split does not by itself change the total dollar value of your holdings, but as always the market value of a company’s stock may change.
To better understand the conversion rate and number of shares you’d own after the split, take the number of shares you held before the split and divide by 12. Note this could result in a fractional share(s) and having less share(s) than you previously owned.
EXAMPLE: Shares previously owned / 12 = new shares
This corporate action affects all shareholders holding Aurora Cannabis (ACB) before the split. Due to this event, Cash App Investing will not be accepting scheduled orders for Aurora Cannabis until after the Reverse Split is fully processed.
Additional guidance from the SEC for Investors regarding Reverse Stock Splits can be found: https://www.investor.gov/introduction-investing/investing-basics/glossary/reverse-stock-splits
If you have questions regarding corporate actions that affect shares you’re holding, we recommend contacting the appropriate company’s investor relations team, or visiting the investor relations page on their website for more information.
Investing involves risk; you may lose money. Brokerage services provided by Cash App Investing LLC, member FINRA/SIPC and a subsidiary of Square, Inc. Past performance of a security or financial product does not guarantee future results or returns. You should consider the risks before investing. For more on the risks of investing see our Disclosure Library.
What this corporate action means for shareholders
What this means for shareholders