A.k.a. Brands Approve 1-for-12 Reverse Stock Split

(RTTNews) - a.k.a. Brands Holding Corp. (AKA) Monday announced that it will effect a one-for-12 reverse stock split of its common stock, effective on September 29, 2023.

On October 2, 2023, the company's common stock will begin trading on a post-reverse split basis on the NYSE under the existing symbol "AKA."

The reverse split is primarily intended to bring the company into compliance with the minimum bid price requirement for maintaining its listing on the NYSE.

The reverse split will reduce the number of shares of common stock issued and outstanding from approximately 128 million to approximately 11 million.