TechMediaBreaks — Cepton Inc. (NASDAQ: CPTN) Board Approves 1-for-10 Reverse Stock Split, Names Chief Commercial Officer
Cepton (NASDAQ: CPTN), a Silicon Valley innovator and leader in high-performance lidar solutions, announced a 1-for-10 reverse stock split of its common stock; the move was approved by Cepton’s board of directors. According to the announcement, the split will be effective on Sept. 21, 2023, at 5 p.m. ET, with the common stock beginning to trade on a split-adjusted basis on Sept. 22, 2023, when the NASDAQ exchange opens. The announcement noted that stockholders approved the proposal to authorize the board to affect a reverse split at a ratio ranging from 1-for-5 to 1-for-20 during a Sept. 7 special meeting. The…