ACCESSWIRE - Jan 9 - SNAP has completed its previously announced 1-for-35 reverse stock split. SNAP's common stock will continue to trade on the OTCQB market but its trading symbol (STVI) will have an added designation of "D" for a 20 business day period following the reverse stock split (STVID). After 20 business day period, the symbol for SNAP's common stock will revert to "STVI". As a result of the reverse stock split, every 35 shares of SNAP's common stock were combined and reclassified into a single share of common stock and the number of shares of common stock that SNAP is authorized to issue was proportionally reduced from 500M to ~14.3M. A reverse stock split is a process by which shares are merged to form a smaller number of proportionally more valuable shares.
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