iCAD, Inc. (ICAD) Announces One - for - Five Reverse Stock Split
8/15/2012 9:04:40 AM
NASHUA, N.H.--(BUSINESS WIRE)--iCAD, Inc. (Nasdaq: ICAD), an industry-leading provider of advanced image analysis, workflow solutions and radiation therapy for the early identification and treatment of cancer, today announced the effectiveness of a one-for-five reverse stock split of its common stock. The reverse stock split was approved by its shareholders at the Annual Shareholder meeting of the Company held on May 22, 2012. The Company's Board of Directors was authorized to proceed with an amendment to the Company's Certificate of Incorporation to effect a reverse stock split and determine the ratio of the split within a range of not less than 1-for-2 or greater than 1-for-6. The Board of Directors has determined to fix the ratio for the reverse stock split at 1-for-5.