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Cinedigm effects 1-for-10 reverse stock split

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Cinedigm effects 1-for-10 reverse stock split

Cinedigm Corpis effecting a reverse stock split under which it will convert every 10 shares ofits class A common stock into one share, the company said May 9.

All resulting fractional shares will be converted into cash paymentsdetermined by the stock's May 9 closing price on the Nasdaq Global Market.The reverse stock split will reduce the total number of company shares outstandingfrom about 78 million to 7.8 million. Concurrently, the total authorized sharesof Class A common stock will be reduced from 210 million to 21 million.