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Avanex Reverse Splits

Avanex effects reverse stock split

August 12, 2008

1 Min Read

FREMONT, Calif. -- Avanex Corporation (NASDAQ:AVNX), a leader in telecommunication components that enable next-generation optical networks, today announced that the previously approved 15-for-1 reverse stock split of its common stock has been effected. Accordingly, as of 5 p.m., Eastern Daylight Time, on August 12, 2008, each fifteen shares of issued and outstanding Avanex common stock and equivalents has been converted into one share of common stock.

The reverse stock split shall be reflected in the trading price of Avanex’s common stock at the opening of trading on August 13, 2008. Avanex stockholders will receive instructions from their broker or from Avanex's transfer agent, Computershare, containing the appropriate procedures for turning in their old share certificates for new, post-reverse-split share certificates. Fractional stockholdings will be paid out in cash based on the closing stock price on August 12, 2008.

Avanex Corp. (Nasdaq: AVNX)

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