AUDUBON, PA, July 31, 2012: Globus Medical, Inc., a leading spinal implant manufacturer, today announced that its board of directors has approved a 1-for-3.25 reverse split of its common stock. The reverse stock split will become effective upon the filing of the amendment to its certificate of incorporation with the Delaware Secretary of State on July 31, 2012.
At the effective time of the reverse stock split, each 3.25 shares of the company’s outstanding common stock will be combined into one share of common stock. The reverse stock split affects all Globus Medical common stock and stock options outstanding immediately prior to the effective time of the reverse stock split. Any person who would otherwise be entitled to a fractional share of common stock as a result of the reverse stock will be entitled to receive a cash payment in lieu of such fractional share.