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THQ consolidates stock in NASDAQ delisting dodge

Monday, 2nd July 2012 15:00 GMT By Patrick Garratt

THQ announced a 10-1 reverse stock-split today, a move designed to keep its share price above $1 and avoid being delisted from the NASDAQ.

The trick will reduce the amount of THQ shares from 68.5 million to 6.9 million.

THQ said in its statement today that the move is specifically designed to bring its share price above $1. As reported in January, THQ will be dropped from the NASDAQ if get its value above the threshold before July 23.

The publisher was threatened with the action as its share price fell below $1 and stayed there for more than 30 consecutive days.

THQ has had a difficult year, having seen Danny Bilson leaving the company, mass firings and Jason Rubin take over as president.

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1 Comments

  1. DSB

    I had to look up reverse stock split. I didn’t know that was possible.

    So the people who have less than 10 shares get a cash payment and a goodbye Joe, while the company is trading at the lowest point in its history.

    Warm happy feeling.

    #1 3 years ago

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