The Canadian sports wagering company Score Media and Gaming Inc., also known as the Score, has decided to reverse split its stock.
The company, by doing so, intends to gain access to a major US bourse, such as Nasdaq or the New York Stock Exchange (NYSE).
The decision was approved by the Board by 1-for-10 reverse split, implying that investors will receive one new share for every 10 currently held.
As per casino.org, the statement by the company read: “The consolidation has taken effect on February 11, 2021, and the Class A Shares are expected to commence trading on the Toronto Stock Exchange on a post-consolidation basis beginning at the open of markets on February 18, 2021.”
Founder and CEO John Levy said: “We believe a US listing would benefit our business and shareholders as we seek to further execute on the growing opportunity in the rapidly developing North American sports betting market.”