ATHENS: NASDAQ-listed FreeSeas is pushing through a reverse stock split of the company’s issued and outstanding common stock at a ratio of one new share for every 50 shares currently outstanding.
Fractional shares of common stock will be rounded up to the nearest whole share. Earlier this month, FreeSeas, a Greek outfit that has focused on handysized bulkers, announced it had acquired a 51% stake in Standcorp International, a new company that will operate tankers.
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