Chevrolet Corvette Stingray C7 Forum - View Single Post - GM may seek 1-for-100 reverse stock split

Design1stCode2nd · 05-06-2009, 09:27 AM

This is the super short version of what was given to the SEC by GM:

General Motors has filed papers with the Securities and Exchange Commission detailing plans for financing the new, “good” GM. If/when realized, the scheme will wipe out GM’s current stock holders. The plan would:
* Increase the number of authorized shares to 62 billion
* Reduce the par value to one cent
* Effect a 100:1 reverse split for the existing shareholders (that’s one cent on a dollar)

05-06-2009, 09:27 AM	#15
Design1stCode2nd Drives: four wheels Join Date: Oct 2007 Location: usa Posts: 585	You may want to sell all your GM stock This is the super short version of what was given to the SEC by GM: General Motors has filed papers with the Securities and Exchange Commission detailing plans for financing the new, “good” GM. If/when realized, the scheme will wipe out GM’s current stock holders. The plan would: * Increase the number of authorized shares to 62 billion * Reduce the par value to one cent * Effect a 100:1 reverse split for the existing shareholders (that’s one cent on a dollar)