reverse stock split

Sirius Back Above a Buck

John Paczkowski in News on February 17, 2010 at 10:59 am PT

Sirius XM Radio is a penny stock no more. Shares of the satellite radio company rose above $1 this morning, the first time they crossed that threshold since September 2008. As I write this, Sirius shares are trading at $1.07, up 11.46 percent for the day.

Approve a Massive Stock Dilution? Surely, You Can't Be Serious…I Am Sirius, and Stop Calling Me Shirley.

John Paczkowski in News on December 19, 2008 at 9:04 am PT

At Sirius XM’s annual meeting Thursday, shareholders approved a reverse stock split plan that empowers the board to split common Sirius shares by a 1-for-10 to 1-for-50 ratio by end of 2009. They also approved the issuance of up to 3.5 billion new shares. Should Sirius need to, it can now effect a reverse split that will raise its stock price above the $1 necessary to avoid delisting and sell new shares to meet the almost $1 billion in loan repayments it faces next year.

Approve a Massive Stock Dilution? Surely, You Can’t Be Serious…I Am Sirius, and Stop Calling Me Shirley.

John Paczkowski in News on December 19, 2008 at 9:04 am PT

At Sirius XM’s annual meeting Thursday, shareholders approved a reverse stock split plan that empowers the board to split common Sirius shares by a 1-for-10 to 1-for-50 ratio by end of 2009. They also approved the issuance of up to 3.5 billion new shares. Should Sirius need to, it can now effect a reverse split that will raise its stock price above the $1 necessary to avoid delisting and sell new shares to meet the almost $1 billion in loan repayments it faces next year.

Sirius Shareholders Pass Reverse Split, Additional Shares

John Paczkowski in News on December 18, 2008 at 11:02 am PT

Well, what do you know? Sirius CEO Mel Karmazin pulled it off: At the satellite radio outfit’s shareholder meeting today, a proposal to enact a reverse stock split and another to increase the number of authorized shares of Sirius XM common stock from 4,500,000,000 to 8,000,000,000 passed.

Time Warner’s New Strategy: Bigger Stock Price, Same Company

Peter Kafka in Media on December 1, 2008 at 1:26 pm PT

Time Warner shareholders used to complain that the stock was stuck in the high teens. These days, those prices seem pretty good. But how to get there?