MoviePass, the cash-strapped movie-subscription plan, is eyeing a 1-for-250 reverse stock split, it said Tuesday.
The move is aimed at keeping its shares from being delisted. Shares of Helios & Matheson Analytics, the MoviePass parent, closed Tuesday at 8.5 cents.
Under the reverse split at current values, H&M shares would be worth $21.25.
The company said that shareholders approved a “one-time” split at a ratio of anywhere from 1-to-2 all the way to 1-to-250.
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