SAN RAMON, Calif. - CooperCompanies (NASDAQ:COO), a global medical device company, has announced that its four-for-one stock split will be effective on the evening of Friday, February 16, 2024. Trading on a stock split-adjusted basis is expected to commence at the opening of the market on Tuesday, February 20, 2024. The company's trading symbol will remain as COO.
The decision for the stock split was first made public on December 7, 2023, during the company's fourth quarter earnings release and has been approved by its board of directors. The stock split is described as a mandatory exchange and is intended to make the ownership of CooperCompanies' shares more accessible to employees and a broader investor base.
Following the stock split, the new CUSIP number for CooperCompanies’ common stock will be 216648501. This split does not alter the company's market capitalization or the intrinsic value of its shares but increases the number of outstanding shares, thereby reducing the price per share.
CooperCompanies operates through two business units: CooperVision, a leader in the contact lens industry, and CooperSurgical, a company focused on fertility and women's health. With a workforce exceeding 15,000, CooperCompanies markets its products in over 130 countries.
This announcement contains forward-looking statements which are subject to various risks and uncertainties that could cause actual outcomes to differ materially from those anticipated. The company has highlighted that these statements, including those regarding the timing and effects of the stock split, are based on current expectations and are subject to change.
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