Through the split, the Suwanee, Ga.-based company will put a single share of its common stock in the hands of its customers for every 10 shares of their stock they previously owned.
The reverse split is slated to go into effect tomorrow, with Digirad’s stock trading on a split-adjusted basis beginning June 5. As a result of this reverse split, the total number of authorized shares of common stock will be reduced from 20.3 million to 2 million shares.
Owners of fractional shares after the reverse split will receive a single full share of post-reverse split shares, according to an SEC filing.
In January, Digirad said that its chief operating officer David Noble was taking on the role of interim CFO for the company.