Arista Power plans reverse stock split

Oct 21, 2011 - US renewable power equipment maker Arista Power Inc (OTC:ASPW) said on Thursday its board had approved plans for a reverse stock split, whereby each 20 shares of the company's common stock are to be converted into one share.

Arista hopes that the resulting increase in its stock price will attract more investor interest, help it draw and keep employees and improve its prospects with customers. Chief executive William Schmitz said the company expected to be in a position to seek a listing on NASDAQ or NYSE Amex Equities next year.

Arista said shareholders holding most of the shares had indicated an intention to back the move and that it expected the stock split to become effective in the second half of December.

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