What action by president lincoln most angered the radical reoublicans in congress.
Shares also trade in a secondary market on stock exchanges. A company can increase or decrease the number of shares outstanding without an IPO through stock splits and reverse splits. In all cases, the beneficiary of reverse split activity is the management of the company performing the reverse split. Shareholders may or may not benefit depending on the specifics of the reverse split.
The purpose of seeking stockholder approval of a range of exchange ratios from 1:2 to 1:5, rather than a fixed exchange ratio, is to provide the Company with the flexibility to achieve the desired results of the reverse stock split based on the circumstances.