Technology Stocks

Staffing 360 Solutions Inc (STAF) Has Opted For Reverse Stock Split to Hold On To NASDAQ Listing; Synchronoss Technologies, Inc. (SNCR) Closes $235 Million Of Common Stock And Senior Notes Offerings

Staffing 360 Solutions Inc (NASDAQ: STAF) has officially announced that it will undertake the reverse stock split to maintain its NASDAQ listing. In an official statement, the company conveyed that it intends to implement a reverse stock split of its common stock at a ratio of 1 post-split share for every six pre-split shares. The company also announced that this move would be effective starting June 30, 2021.

The reverse stock split will not alter any stockholder’s percentage interest in the company’s equity

A source from the company added that the respective proposed reverse stock split would have a uniform impact on its stockholders. Furthermore, according to the company, the reverse stock split will not alter any stockholder’s percentage interest in the company’s equity. However, the reverse stock split would result in a stockholder owning a fractional share. The company assured that the fractional share that results from the proposed reverse stock split would be rounded up to the nearest whole number of shares. 

Staffing 360 Solutions Inc offers respite to its stockholders

In a bid to help its stockholders, Staffing 360 Solutions Inc announced any doubts about the reverse stock split. Additionally, stockholders can have their questions answered by the company’s transfer agent, Continental Stock Transfer & Trust Company, at 877-634-5370.

Synchronoss Technologies, Inc. (NASDAQ: SNCR), Declares Closing of $235 Million of Common Stock and Senior Notes Offerings

Synchronoss Technologies, Inc. (NASDAQ: SNCR) declares closing of $235 million of common stock and senior notes offerings is another development doing the rounds in the business news section. In a recent announcement made by the company, it has come to light that the company closed an underwritten public offering of $125 million aggregate principal amount of 8.375% senior notes due 2026. In addition, the same included a $5 million aggregate principal amount of senior notes issued in connection with the underwriters’ option to purchase senior notes. 

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