MoviePass’ parent company eyes massive reverse stock split

FILE - In this Jan. 30, 2018 file photo, Cassie Langdon holds her MoviePass card outside AMC Indianapolis 17 theatre in Indianapolis. The startup that lets customers watch a movie a day at theaters for just $10 a month, is limiting new customers to just four movies a month. The move comes as customers and industry experts question the sustainability of MoviePass’ business model. Because MoviePass is paying most theaters the full price of the ticket, the service is in the red with just one or two movies in a month. (AP Photo/Darron Cummings, File)

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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