Atari proposes stock split to avoid NASDAQ de-listing

Struggling publisher proposes consolidation to keep afloat

Atari continues to fight de-listing from the NASDAQ, with the proposal of a stock split the latest attempt to keep the struggling publisher afloat.

The proposed 1-for-10 reverse stock split would see current shares reduced to one-tenth of a share. After the stock-split, Atari share prices should in effect be worth ten times the current price, with the company having the same amount of net assets, but divided amongst fewer shares.

The plan is subject to shareholder approval, and with Atari parent company Infogrames holding 51 per cent of the publisher's shares, it's expected the plan will be approved.

To comment on this article, or view other users comments, you need to register for the GamesIndustry.biz Network.

Atari proposes stock split to avoid NASDAQ de-listing

Atari

Bonnell received $4.75 million to exit Atari

Atari refuses to be drawn on ratings row

Infogrames net loss halved, shares initially jump 5%

GamesIndustry.biz is the world's most read and influential games industry website. But don't just take our word for it!