On May 19, Plug Power Inc. (the "Company”) announced a one-for-ten (1:10) reverse stock split of the common stock of the Company (the "Common Stock").
Has Plug Power had a stock split?
Plug Power went public in October 1999 at $15 a share. As of the market close Monday, it was trading for $26.13. However, in 2011, it effected a 10-for-1 reverse stock split to maintain its Nasdaq exchange listing, which management said was important to the health of the company.
What company owns Plug Power?
South Korea-based conglomerate SK Group will take a 9.9% stake worth $1.5 billion in hydrogen fuel cell maker Plug Power Inc and form a joint venture to help provide hydrogen fuel cell products to Asian markets, the companies said.