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Stock Market & Financial Investment News

News Breaks
July 2, 2014
16:16 EDTBODYSolas Capital raises stake in Body Central to 9.9% from 8.5%
In addition to the shares, Solas Capital beneficially own convertible notes, which are subject to a 9.99% blocker and accordingly the number and percentage of shares reported show the number of shares that would be issuable on a conversion of the convertible notes, subject to the 9.99% blocker.
News For BODY From The Last 14 Days
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September 4, 2014
17:18 EDTBODYBody Central announce 1-for-10 reverse stock split
Body Central announced that it is effecting a 1-for-10 reverse stock split of its common stock which will be effective as of 5:00 p.m. EDT, September 4. At the Split Effective Time, each 10 shares of issued and outstanding common stock and equivalents will be converted into 1 share of common stock. In addition, at and following the Split Effective Time, the common stock will trade under a new CUSIP number 09689U201 although the company's trading symbol, BODY, will remain unchanged. The number of outstanding common shares will be reduced from approximately 17.25M to approximately 1.72M. The number of authorized shares and the par value per share will remain unchanged. No fractional shares will be issued in connection with the reverse stock split. Holders of fractional shares will be paid out in cash for the fractional portion with the company's overall exposure for such payouts consisting of a nominal amount. The reverse stock split was among the provisions included in the company's Fourth Amended and Restated Certificate of Incorporation which was adopted by the company's stockholders at the 2014 Special Meeting and filed with the Secretary of State of the State of Delaware. Further changes effected by the Amended and Restated Charter include provisions to eliminate the company's prior classified board structure to instead provide for the annual election of all directors, subject to the rights of holders of preferred stock to appoint directors; eliminate the super-majority voting requirements; eliminate the prohibition against stockholder action by written consent and authorize stockholder action by majority written consent; and authorize 25% of the company's directors to call a special meeting of stockholders. In addition, the company's board implemented Amended and Restated By-Laws of the company which make conforming changes consistent with the Amended and Restated Charter; eliminate the super-majority voting requirements included in the company's previous by-laws; and provide that the company's directors be elected by a majority vote standard in uncontested elections.

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