I concur with your assessment; the erosion begins anew tomorrow:
Merisel Stockholders Approve Reverse Stock Split
EL SEGUNDO, Calif.--(BUSINESS WIRE)--Feb. 13, 2001--Merisel Inc. (Nasdaq:MSEL) today announced that its stockholders have approved a 1-for-10 reverse stock split, in which one share of common stock will be exchanged for every 10 shares of outstanding common stock.
The effective date of the stock split for trading on the Nasdaq stock market is Feb. 14, 2001. For the next 20 trading days, the symbol for Merisel common stock on the Nasdaq stock market will be "MSELD."
The reverse split will reduce the company's outstanding shares of common stock from approximately 80,254,350 to 8,025,435.
Merisel is a distributor of technology products to resellers throughout North America and a provider of logistics services. Merisel supports the growth of its partners with flexible financing options, expert technical support, business-development services, training opportunities, certified product configuration, progressive e-business solutions, and world-class logistics services.
Visit Merisel at www.merisel.com.
CONTACT:
Merisel Inc., El Segundo
Timothy N. Jenson, 310/615-6850
KEYWORD: CALIFORNIA
BW0587 FEB 13,2001
11:47 PACIFIC
14:47 EASTERN |
