Business
Distribution Solutions Group Declares Two-for-One Stock Split
FORT WORTH, Texas--(BUSINESS WIRE)-- Distribution Solutions Group, Inc. (Nasdaq: DSGR) ("DSG" or the "Company") announced today that its Board of Directors
About this update from Distribution Solutions Group, Inc.
[{"type":"text","content":" FORT WORTH, Texas--(BUSINESS WIRE)--\nDistribution Solutions Group, Inc. (Nasdaq: DSGR) (\"DSG\" or the \"Company\") announced today that its Board of Directors has approved and declared a two-for-one split (the “Stock Split”) of the Company’s common stock, $1.00 par value per share (the “Common Stock”). The Stock Split will entitle each stockholder of record as of the close of business on August 25, 2023 to receive one additional share of Common Stock (a “Share”) for each share of Common Stock then held, to be distributed by the Company’s transfer agent Computershare after the close of trading on August 31, 2023. Stockholders do not need to exchange existing stock certificates to receive additional Shares.\n\n\nBased on the number of shares of Common Stock currently outstanding, the Company will have 46,699,470 shares of Common Stock outstanding on a split-adjusted basis and anticipates the Shares to begin trading on The Nasdaq Global Select Market on a split-adjusted basis at the start of trading hours on September 1, 2023. Any shares of Common Stock purchased between the August 25, 2023, record date and the August 31, 2023, distribution date will come with a “due-bill” entitling the buyer to one additional Share for each shares of Common Stock so purchased.\n\n\nBryan King, DSG CEO and Chairman of the Board, commented: “We believe that the two-for-one stock split demonstrates our continued confidence in the long-term growth and financial performance of DSG. We anticipate that the adjusted price per share, resulting from the stock split, will help promote new investor interest and continue to enhance our stock’s liquidity in the market. We view this stock split as further evidence of our commitment of enhancing shareholder value, building long-term profitability, and generating incremental cash flow.”\n\n\nAbout Distribution Solutions Group, Inc.\n\n\nDSG is a premier multi-platform specialty distribution company providing high touch, value-added distribution solutions to the maintenance, repair & operations (MRO), the original equipment manufacturer (OEM) and the industrial technologies markets. DSG was formed through the strategic combination of Lawson Products, a leader in MRO distribution of C-parts, Gexpro Services, a leading global supply chain services provider to manufacturing customers, and TestEquity, a leader in el...