Yellow | YRC Worldwide May Request More Time To Enact Reverse Split


TB Legend
YRC Worldwide Inc. (YRCW) is holding out the possibility that it may seek an extension to an Aug. 30 deadline to enact a reverse stock split and boost its share price above $1 or face Nasdaq delisting.

Executives of the struggling trucking company, which last traded above $1 a share on Jan. 15, said through a spokeswoman Wednesday that they remain intent on avoiding delisting by enacting a reverse split.

But they also said the precise date of the move "will take into account the timing of any appeals," meaning it might not happen by the Monday deadline if YRC seeks an extension.

YRC shares were trading recently around 26 cents. YRC previously has said the planned reverse split will range from 1:25 to 1:5.

The company declined to reveal a reason for what have been repeated delays. Beginning in March, it reiterated several times that it expected to enact the reverse split during the second quarter, but in June it noted that it technically had until Aug. 30 to satisfy the Nasdaq stock market listing requirements. .............

YRC Worldwide May Request More Time To Enact Reverse Split | Real Time Market News | Dow Jones