Podcast hosting and monetization company Libsyn has completed a 10,000-to-1 reverse stock split, according to an April 14 release. As a result of the split, shareholders with fewer than 10,000 shares now no longer hold equity in the company.
Instead, they will receive a cash payout of $1.60 per share, based on the company’s declared post-split fair market valuation of $16,000 per share.
The reverse split also slashes the company’s authorized stock: common shares drop from 200 million to 20,000, and preferred shares fall from 10 million to 1,000. Previously, Libsyn had over 35.6 million common shares outstanding; that number now stands at approximately 3,345. The company had no preferred shares outstanding before or after the move.
The reverse stock split was executed through a Certificate of Change filed with the Nevada Secretary of State, and approved by Libsyn’s Board of Directors under Nevada Revised Statutes. No shareholder vote was required. Libsyn has been privately held since its suspension from the stock market in 2022. The company has confirmed that it will not pursue re-listing.
