Vestin Realty Mortgage II, Inc. Intends to Effect a Reverse Stock Split
LAS VEGAS, Feb. 4, 2014 (GLOBE NEWSWIRE) -- Vestin Realty Mortgage II, Inc.
(Nasdaq:VRTB) (the "Company") today announced that the previously disclosed
1-for-4 reverse stock split of the Company's issued and outstanding shares of
common stock is expected to take effect at approximately 5:01 p.m. (EST)
today, February 4, 2014 (the "Effective Date").
Accordingly, as a result of the reverse stock split, every 4 shares of issued
and outstanding common stock will be converted into 1 share of common stock.
No fractional shares will be issued in connection with the reverse stock split
and the number of authorized shares and the par value per share will remain
unchanged. Each stockholder otherwise entitled to a fractional share will be
entitled to receive cash in an amount equal to the product of the fraction of
a share multiplied by the closing price of the Company's common stock as
reported by the NASDAQ Stock Market LLC on the Effective Date. The Company's
common stock will begin trading on the NASDAQ Stock Market LLC on a reverse
split-adjusted basis when the market opens on February 5, 2014.
The Company's stockholders will be receiving information from Broadridge
Corporate Issuer Solutions, Inc., the Company's transfer agent, regarding the
mechanics of exchanging their stock certificates and receiving cash in lieu of
any fractional shares.
About Vestin Realty Mortgage II
Vestin Realty Mortgage II, Inc. is a Maryland corporation that invests in
commercial real estate loans and commercial real estate.As of September 30,
2013, Vestin Realty Mortgage II, Inc. had assets of approximately $39.6
million.Vestin Realty Mortgage II, Inc. is managed by Vestin Mortgage,
LLC.Since 1995, Vestin Mortgage LLC. has facilitated more than $2.0 billion
in lending transactions.
This press release contains certain forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended, including statements
relating to future financial results and business prospects. The
forward-looking statements contained in this press release are subject to
certain risks and uncertainties including, but not limited to, the risks
indicated from time to time in the Company's Form 10-K and Form 10-Q filings
with the Securities and Exchange Commission. The Company assumes no obligation
to update or supplement forward-looking statements that become untrue because
of subsequent events or circumstances.
CONTACT: MEDIA CONTACT:
(949) 427-5172 ext. 701
Press spacebar to pause and continue. Press esc to stop.