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SCOTTSDALE, Ariz. - Caliber, a real estate investment firm currently trading at $0.26 per share, has declared a 1-for-20 reverse stock split for its Class A and Class B common stock, effective May 2, 2025. This move aims to comply with Nasdaq’s minimum bid price requirement, although it does not guarantee compliance. According to InvestingPro data, the stock has declined nearly 70% over the past year, with particularly weak price momentum in recent months.
The reverse stock split, approved by stockholders on April 21, 2025, will reduce the number of outstanding shares of Class A and Class B common stock, with no change to the par value or authorized shares. Fractional shares resulting from the split will be rounded up to the nearest whole share.
Currently, there are approximately 18.6 million shares of Class A and 7.4 million shares of Class B common stock, which will consolidate to roughly 928,715 and 370,821 shares, respectively. Shareholders do not need to take action as the adjustment will be automatic, particularly for those holding shares electronically or through a nominee.
Caliber, with over $2.9 billion in managed assets, focuses on real estate opportunities in hospitality, multi-family residential, and multi-tenant industrial sectors. The firm’s growth is supported by its in-house shared services group.
The information in this article is based on a press release statement from Caliber.
In other recent news, CaliberCos Inc. has reported its financial outcomes for the fourth quarter and full year of 2024, although specific figures were not disclosed in the 8-K filing with the SEC. The company has provided an earnings supplement as Exhibit 99.2, which offers a comprehensive overview of its financial health and operations. In a strategic move, CaliberCos Inc. has approved a 1-for-20 reverse stock split, set to take effect on May 2, 2025, reducing the number of outstanding shares significantly. This action aims to increase the market price per share to meet Nasdaq’s listing requirements.
Additionally, Caliber has received unanimous approval from the Phoenix City Council for its Canyon Village redevelopment project, which will convert a distressed office building into a 376-unit residential complex. This project is situated in an opportunity zone and is set to begin construction in late 2025, contingent on securing financing. Furthermore, the company has priced a public offering at approximately $900,000, with Craft Capital Management, LLC serving as the exclusive book-runner. Lastly, CaliberCos Inc. has updated its offering circular with the SEC for its Series AA Cumulative Redeemable Preferred Stock, assigning unique CUSIP numbers for different issuance periods to aid in tracking maturity dates.
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