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Stock Market & Financial Investment News

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December 12, 2013
09:32 EDTSBCFSeacoast Banking reports effectiveness of reverse stock split
Seacoast Banking has filed an amendment to its Amended and Restated Articles of Incorporation with the Florida Secretary of State to effect a 1-for-5 reverse split of its common stock, effective as of 12:01 a.m. EST on December 13, when each five shares of Seacoast's common stock will automatically be converted into one share of Seacoast's common stock. Any fractional post-split shares as a result of the reverse stock split will be rounded up to the nearest whole post-split share. The company's common stock will begin trading on Nasdaq Global Select Market on a split-adjusted basis on December 13 under a new CUSIP number, 811707801. The common stock will continue to trade under the symbol "SBCF." The reverse stock split will reduce the number of outstanding shares of common stock of Seacoast from approximately 130M shares to approximately 26M.
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