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Chesapeake Mulls Potential Reverse Stock Split; Shareholders to Vote
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In its latest SEC filing, Chesapeake Energy Corp. announced that it is looking at possibly launching a reverse stock split in an effort to boost the company's value.
In the filing, the company stated: "Approval of an amendment to effect a reverse stock split of our common stock at a ratio ranging from one-for-fifty (1:50) to one-for-two hundred (1:200), with the exact ratio as may be determined at a later date by our Board."
The possibility of Chesapeake effecting a reverse stock split was first discussed in December 2019.
The company and its shareholders will vote on the proposal at its annual shareholder meeting on April 13, 2020.
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