BlueLinx Holdings to Seek Stockholder Approval of 1-for-10 Reverse Stock Split
The Company believes that a reverse stock split, which is likely to result in a higher per share price and a corresponding lower number of total shares issued and outstanding at the time of implementation, should help increase the marketability of its stock to a broader range of potential new investors. In addition, the reverse stock split should enable the Company to attain the minimum
The reverse stock split would not affect any stockholder’s percentage ownership interest or proportionate voting power existing immediately prior to the reverse stock split. The Company’s Board of Directors reserves the ability to seek approval of a different reverse stock split ratio or to elect not to proceed with the reverse stock split if it determines that doing so is in the best interests of the Company and its stockholders.
Important Information about the Reverse Stock Split Proposal
This communication may be deemed to be solicitation material in connection with the proposal to be submitted to the Company’s stockholders at its annual meeting seeking approval to authorize a reverse stock split. In connection with the reverse stock split proposal, the Company plans to file a preliminary proxy statement on Schedule 14A with the
The Company and its Board of Directors and executive officers may be deemed to be participants in the solicitation of proxies from the holders of Company common stock in respect of the reverse stock split proposal. Information about the directors and executive officers of the Company is set forth in the Company’s proxy statement for its 2015 annual meeting of stockholders, which was filed with the