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 THQ reshuffles stock to avoid Nasdaq delisting

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PostSubject: THQ reshuffles stock to avoid Nasdaq delisting   Mon Jul 02, 2012 11:16 am

THQ has enacted a 10-1 reverse split of its common stock in attempt to prevent delisting from the Nasdaq stock exchange.

Although the company hopes the move will cause share prices to rise above the $1 threshold required of all listed companies, it has also admitted there are no guarantees this will happen.

"There can be no assurance that the reverse stock split will have the desired effect of raising the closing bid price of THQ's common stock to above $1.00 per share to meet this requirement," the company said in a statement.

In May THQ announced that Naughty Dog co-founder Jason Rubin has been appointed as President of the publisher, effective immediately, following the departure of Danny Bilson.

Following the appointment THQ has downsized its operations by shedding licenses, such as the UFC, and offloading publishing duties onto third-parties.


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