Playstudios enacts 1-for-10 reverse stock split, shares begin trading on split-adjusted basis

Playstudios, Inc. (NASDAQ:MYPS) announced a 1-for-10 reverse stock split of its Class A and Class B common stock, effective at 5:00 p.m. Eastern Time on Wednesday. The split became active on The Nasdaq Capital Market at the opening bell the following day. The reverse split was approved by shareholders at the company's annual meeting on July 10, with the board of directors setting the final ratio on August 25.

Each 10 shares of Class A and Class B common stock were merged into one share of the same class. Neither the par value nor the number of authorized shares changed, and voting rights remained unaffected. No fractional shares were created; shareholders with fractional shares received a cash payment based on the stock's official closing price on the split date, adjusted for the split.

The board also adjusted outstanding equity awards, exercise prices, and shares available under equity plans accordingly. The reverse split impacted all shareholders equally, preserving their percentage ownership in the company. The trading symbol for Playstudios' Class A common stock remains "MYPS," and the new CUSIP number is 72815G306.