The ODP Corp. (NASDAQ: ODP), Boca Raton, Florida announced Wednesday that it has completed its previously announced holding company reorganization to create a newly formed public company and implement a 1-for-10 reverse stock split effective June 30, 2020.
The ODP Corp. replaces Office Depot Inc. as the public company trading on Nasdaq under the ticker symbol “ODP”. All outstanding shares of Office Depot have been automatically converted into shares of common stock in the company, and Office Depot now operates as a wholly owned subsidiary of The ODP Corp.
In connection with the implementation of the holding company reorganization, the company announced that it also completed a 1-for-10 reverse stock split for all issued and outstanding common stock effective at 4:01 p.m. EDT on June 30, 2020.
