CorVel Announces Effectiveness of Three-For-One Forward Stock Split
CorVel (NASDAQ: CRVL) has announced the effectiveness of a three-for-one forward stock split, effective December 24, 2024. The company has filed an amendment to its Fourth Amended and Restated Certificate of Incorporation with Delaware's Secretary of State to implement the split and increase its authorized shares proportionately.
Every share of common stock outstanding or held in treasury as of December 23, 2024 (record date) will be split into three shares. Additional shares distribution is expected on December 24, 2024, with post-split trading beginning at market open on December 26, 2024.
CorVel (NASDAQ: CRVL) ha annunciato l'efficacia di uno scorporo azionario in tre per uno, valido dal 24 dicembre 2024. L'azienda ha presentato un'emendamento al suo Quarto Certificato di Incorporazione Modificato e Rifatto presso il Segretario di Stato del Delaware per attuare lo scorporo e aumentare proporzionalmente le sue azioni autorizzate.
Ogni azione ordinaria in circolazione o detenuta in tesoreria al 23 dicembre 2024 (data di registrazione) sar脿 divisa in tre azioni. Si prevede una distribuzione aggiuntiva delle azioni il 24 dicembre 2024, con le negoziazioni post-scomposizione che inizieranno all'apertura del mercato il 26 dicembre 2024.
CorVel (NASDAQ: CRVL) ha anunciado la efectividad de un dividendo de acciones en tres por uno, a partir del 24 de diciembre de 2024. La compa帽铆a ha presentado una enmienda a su Cuarto Certificado de Incorporaci贸n Modificado y Restablecido ante el Secretario de Estado de Delaware para implementar el dividendo y aumentar proporcionalmente sus acciones autorizadas.
Cada acci贸n ordinaria en circulaci贸n o en tesorer铆a a partir del 23 de diciembre de 2024 (fecha de registro) se dividir谩 en tres acciones. Se espera una distribuci贸n adicional de acciones el 24 de diciembre de 2024, con el inicio de las operaciones post-dividendo en la apertura del mercado el 26 de diciembre de 2024.
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CorVel (NASDAQ: CRVL) a annonc茅 l'efficacit茅 d'un fractionnement d'actions de trois pour un, 脿 compter du 24 d茅cembre 2024. L'entreprise a d茅pos茅 un amendement 脿 son Quatri猫me Certificat de Constitution Modifi茅 et Reconstruit aupr猫s du Secr茅taire d'脡tat du Delaware pour mettre en 艙uvre le fractionnement et augmenter proportionnellement ses actions autoris茅es.
Chaque action ordinaire en circulation ou d茅tenue en tr茅sorerie au 23 d茅cembre 2024 (date d'enregistrement) sera divis茅e en trois actions. Une distribution suppl茅mentaire d'actions est pr茅vue le 24 d茅cembre 2024, avec des 茅changes apr猫s fractionnement d茅butant 脿 l'ouverture du march茅 le 26 d茅cembre 2024.
CorVel (NASDAQ: CRVL) hat die Wirksamkeit eines drei-zu-eins Aktiensplits zum 24. Dezember 2024 angek眉ndigt. Das Unternehmen hat eine 脛nderung seines vierten ge盲nderten und neu gefassten Gesellschaftsvertrags beim Secretary of State von Delaware eingereicht, um den Split umzusetzen und die autorisierten Aktien proportional zu erh枚hen.
Jede am 23. Dezember 2024 (Stichtag) ausstehende oder im Eigenbestand gehaltene Stammaktie wird in drei Aktien aufgeteilt. Eine zus盲tzliche Aktienverteilung wird f眉r den 24. Dezember 2024 erwartet, wobei der Handel nach dem Split am 26. Dezember 2024 zu Markt枚ffnung beginnt.
- Stock split increases share liquidity and makes shares more accessible to retail investors
- No dilution of shareholder value as proportional ownership remains unchanged
- None.
Insights
This stock split marks a strategic move for CorVel, effectively tripling the number of outstanding shares while maintaining the same market capitalization. The 3-for-1 split will reduce the per-share price to approximately one-third of its pre-split value, potentially enhancing trading liquidity and making shares more accessible to retail investors.
The timing of this split, scheduled to take effect during the holiday period with post-split trading beginning December 26, 2024, is particularly interesting. With CRVL's current market cap of
Mechanically, shareholders will receive two additional shares for each share held on the December 23, 2024 record date. While the split doesn't change the fundamental value of holdings, historical patterns show that splits often correlate with positive market sentiment and improved trading dynamics. The increased share count and lower price point could attract a broader investor base and potentially reduce bid-ask spreads.
The execution of this forward stock split demonstrates sophisticated capital markets management by CorVel's leadership. By increasing the float while maintaining proportional ownership, the company is effectively optimizing its share structure for improved market dynamics. The concurrent increase in authorized shares provides strategic flexibility for future corporate actions.
A simplified explanation for retail investors: Imagine having a
The Delaware filing aspect is particularly noteworthy as it reflects proper corporate governance and compliance with regulatory requirements. The clean execution timeline, with immediate effectiveness on December 24 and trading implementation on December 26, minimizes market disruption and provides clarity for stakeholders.
FORT WORTH, Texas, Dec. 24, 2024 (GLOBE NEWSWIRE) -- CorVel Corporation (NASDAQ: CRVL) today announced the effectiveness of a three-for-one forward stock split, along with a proportionate increase in the number of authorized shares of its common stock to accommodate the stock split.
The Company filed an amendment to its Fourth Amended and Restated Certificate of Incorporation with the Secretary of State of the State of Delaware to effect the stock split and proportionate increase in the number of authorized shares of its common stock. The amendment will be effective on December 24, 2024.
As a result of the stock split, every one share of common stock outstanding or held in treasury on December 23, 2024, the record date for the stock split, was split into three shares of common stock. The additional shares of common stock are expected to be distributed on December 24, 2024.
Trading is expected to begin on a post-stock split adjusted basis at market open on December 26, 2024.
Cautionary Note Regarding Forward-Looking Statements
This Press Release contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, which statements are subject to considerable risks and uncertainties. Forward-looking statements include all statements other than statements of historical fact contained in this Press Release, including statements regarding the timing of the distribution of the additional shares and the timing of trading on a post-stock split basis. Forward-looking statements involve known and unknown risks and uncertainties that may cause our actual results to differ materially and adversely from those expressed, assumed, or implied by the forward-looking statements. Some of the risks and uncertainties that may cause actual results to materially differ from those expressed or implied by these forward-looking statements are described in the section entitled 鈥淩isk Factors鈥� in our Annual Report on Form 10-K for the fiscal year ended March 31, 2024, as well as in our Quarterly Reports on Form 10-Q and other filings with the Securities and Exchange Commission. Any forward-looking statement made in this press release is based only on information currently available to the Company and speaks only as of the date on which it is made. Except as required by applicable law or the listing rules of the Nasdaq Global Select Market, the Company expressly disclaims any intent or obligation to update any forward-looking statements, or to update the reasons actual results could differ materially from those expressed or implied by these forward-looking statements, whether to conform such statements to actual results or changes in expectations, or as a result of the availability of new information.
| CorVel Corporation |
| 5128 Apache Plume Road |
| Suite 400 |
| Fort Worth, TX 76109 |
| 听 |
| Contact: Melissa Storan |
| Phone: 949-851-1473 |
FAQ
What is the ratio of CorVel's (CRVL) stock split announced on December 24, 2024?
When will CRVL's stock split shares be distributed to shareholders?
What is the record date for CorVel's (CRVL) stock split?
When will CRVL begin trading on a post-split basis?
Does CorVel's stock split affect shareholder ownership percentage?
