Avanex Effects Reverse Stock Split.FREMONT, Calif. -- Avanex Corporation (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :AVNX), a leader in telecommunication components that enable next-generation optical networks, today announced that the previously approved 15-for-1 reverse stock split of its common stock has been effected. Accordingly, as of 5 p.m., Eastern Daylight Time, on August 12, 2008, each fifteen shares of issued and outstanding Avanex common stock and equivalents has been converted into one share of common stock. The reverse stock split shall be reflected in the trading price Trading price The price at which a security is currently selling. of Avanex's common stock at the opening of trading on August 13, 2008. Avanex stockholders will receive instructions from their broker or from Avanex's transfer agent, Computershare, containing the appropriate procedures for turning in their old share certificates for new, post-reverse-split share certificates. Fractional stockholdings will be paid out in cash based on the closing stock price on August 12, 2008. Further information on the reverse split can be found at the Investor Relations Investor relations The process by which the corporation communicates with its investors. section of Avanex's web-site at www.avanex.com under "Investor FAQs - Reverse Stock Split FAQs" or can be obtained by contacting Avanex. About Avanex Avanex Corporation meets the needs of fiber optic communications networks for greater capacity, longer distance transmissions, improved connectivity, higher speeds and lower costs. Our solutions enable optical wavelength multiplexing multiplexing, in communication, technique whereby two or more independent messages, or information-bearing signals, are carried by a single common medium, or channel. , dispersion compensation, switching and routing, transmission, and amplification, and include network-managed subsystems. Avanex Corporation, incorporated in 1997, is headquartered in Fremont, California For the unincorporated community in Yolo County, California, see . Fremont (IPA: /ˈfriːmɒnt/) is a city in California that was incorporated on January 23, 1956, from the merger of five smaller communities: , and maintains facilities in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , Florida, China, France, Italy, and Thailand. To learn more about Avanex Corporation, visit our Web site at: www.avanex.com. |
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