Viper Powersports Inc. (OTCBB: VPWI) announced today a 1-for-4 reverse stock split, which was effective Sept. 15.
The stock began trading today on a post-split basis on the OTC Bulletin Board under its new symbol, VPWI. Until today, Viper had traded under the symbol (OTCBB:VPWS).Pursuant to this reverse stock split, each four shares of previously held common stock of Viper Powersports Inc. are now equal to one common share of post-split new common stock. Adjusted for this reverse stock split, there are now approximately 11.4 million shares of outstanding common stock and 25 million authorized shares of Viper Powersports Inc. common stock. "This reverse split better positions Viper's capitalization for future business opportunities," said CEO John Silseth in a press release.
Viper Powersports designs, manufactures and markets a line of V-Twin Super Cruiser motorcycles, aftermarket engines and other related aftermarket products through an independent dealer network.