SUPERVALU Announces 1-for-7 Reverse Split Of Common Stock

(RTTNews) - SUPERVALU Inc. (SVU) announced a 1-for-7 reverse split of its common stock, effective as of the close of business on August 1, 2017. Beginning on August 2, 2017, the company's common stock will trade on the NYSE on a split-adjusted basis.

At the company's annual meeting of stockholders on July 19, 2017, the Company's stockholders authorized the Board of Directors to amend the Restated Certificate of Incorporation of the Company to effect a reverse stock split at a ratio in the range of 1-for-5 to 1-for-7.

When the reverse stock split becomes effective, the number of authorized shares of the Company's common stock will decrease to 57.14 million, while the number of issued and outstanding shares will be reduced from approximately 268.50 million to 38.35 million.

The company's common stock will continue to trade on the NYSE under the symbol "SVU."