India, March 21 -- Xcel Brands, Inc. (XELB) will implement a 1-for-10 reverse stock split of its outstanding common stock, effective at the start of trading on March 25, 2025.
The company's stock will continue trading on the Nasdaq Capital Market under the ticker symbol XELB, with a new CUSIP number (98400M200) assigned post-split.
As a result of the reverse split, every ten shares of common stock will be consolidated into one share, maintaining the same overall ownership percentage for stockholders, except for fractional shares. Instead of issuing fractional shares, the company will compensate affected stockholders with a cash payment based on the prior day's closing stock price and the reverse split ratio. Stock options and warrants wil...