Comscore Announces 1-for-20 Reverse Stock Split

(RTTNews) - Comscore, Inc. (SCOR), a media company, on Monday announced a 1-for-20 reverse stock split to bring the company into compliance with Nasdaq's $1 per share minimum bid price requirement for continued listing.

In addition, the company noted that it is on track to meet its 2023 financial target.

Jon Carpenter, CEO of Comscore, said: "While we are disappointed that market conditions led to this reverse split, we are encouraged by our recent performance as we continue to pursue clear financial, operational, and strategic opportunities to deliver growth and value for our shareholders and clients."

Post reverse stock split, the number of outstanding shares of the firm will be reduced to around 4.8 million from approximately 95.1 million.

The shares will begin trading on a split-adjusted basis on the Nasdaq Global Select Market with effect from December 20.

SCOR was trading down by 0.31 percent at $0.75 per share in the pre-market trade on the Nasdaq.