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RMG seeks stockholder approval for reverse stock split

RMG Networks Holding Corp. is seeking stockholder consent to approve a series of alternate amendments to the company's amended and restated certificate of incorporation in order to effect a reverse stock split of common stock.

RMG is currently short of the minimum bid price requirement for continued listing on The Nasdaq Capital Market, and it is considering a reverse stock split to cure the deficiency.

The reverse stock split ratio could range from 1-for-2 to 1-for-5, with the decision to implement one or none of these reverse split amendments and abandon the other reverse split amendments to be made by the board within six months after the date of the annual meeting of stockholders, according to a preliminary proxy statement filed April 6.

The annual meeting of stockholders is scheduled to be held June 20.