Space
Virgin Galactic Eyes Reverse Stock Split With Shares Sagging
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Virgin Galactic Holdings Inc. is proposing a reverse split of its beaten-down shares as the Richard Branson-founded space tourism company tries to maintain compliance with stock market standards.
The company will seek approval at its June 12 shareholder meeting for a reverse stock split in a ratio between 1-for-2 and 1-for-20, according to a regulatory filing Thursday. The exact ratio and timing of a split would be determined by the board.