Colfax Announces Plans for Reverse Stock Split
WILMINGTON, DE, Dec. 30, 2021 (GLOBE NEWSWIRE) -- Colfax Corporation (“Colfax” or the “Company”) (NYSE: CFX), a leading diversified technology company, announced today that it plans to hold a special meeting of stockholders to seek approval for an amendment to the Company’s Amended and Restated Certificate of Incorporation (the “Certificate of Incorporation”) to effect, at the discretion of the Board of Directors, (i) a reverse stock split of the Company’s common stock, par value $0.001 per share (the “Common Stock”), at one of three reverse stock split ratios, one-for-two, one-for-three or one-for-four, with the exact ratio to be determined by the Board of Directors of the Company at a later date, and (ii) if and when the reverse stock split is effected, a corresponding reduction in the number of authorized shares of our Common Stock by the selected reverse stock split ratio.
- WILMINGTON, DE, Dec. 30, 2021 (GLOBE NEWSWIRE) -- Colfax Corporation (Colfax or the Company) (NYSE: CFX), a leading diversified technology company, announced today that it plans to hold a special meeting of stockholders to seek approval for an amendment to the Companys Amended and Restated Certificate of Incorporation (the Certificate of Incorporation) to effect, at the discretion of the Board of Directors, (i) a reverse stock split of the Companys common stock, par value $0.001 per share (the Common Stock), at one of three reverse stock split ratios, one-for-two, one-for-three or one-for-four, with the exact ratio to be determined by the Board of Directors of the Company at a later date, and (ii) if and when the reverse stock split is effected, a corresponding reduction in the number of authorized shares of our Common Stock by the selected reverse stock split ratio.
- Colfax will hold a special meeting of stockholders on February 28, 2022 to seek approval of the reverse stock split and the corresponding authorized share count reduction.
- Even if the reverse stock split proposal is approved by the Companys stockholders, the Board of Directors may delay or abandon the reverse stock split at any time prior to the effective time of the reverse stock split if the Board of Directors determines that the reverse stock split is no longer in the best interests of the Company or its stockholders.
- In connection with the Reverse Split Proposal, Colfax plans to file a preliminary proxy statement on Schedule 14A with the SEC.