Business News • MarketWire • Surety Capital Announces Plans to Go Private Upon a Reverse Stock Split |
Surety Capital Announces Plans to Go Private Upon a Reverse Stock Split |
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Surety Capital Announces Plans to Go Private Upon a Reverse Stock Split
FORT WORTH, TX--(Marketwired - Jul 22, 2016) - Surety Capital Corp. (OTC PINK: SRYP) announced on July 22, 2016 its Board of Directors, shareholders and FINRA had approved a plan whereby substantially all of its stockholders would be eliminated through a reverse split of 1 for 1,500,000 of the currently outstanding 16,320,973 shares. Cash will be paid in lieu of issuance of fractional shares and will be based on a pre-split per share value of $0.011558. No payment of fractional shares amounting to less than $5.00 will be made.
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