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FINWIRES

Marqeta to Enact 1-for-4 Reverse Stock Split

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Marqeta (MQ) will enact a 1-for-4 reverse stock split of all of its outstanding class A, class B, and preferred shares, the company said Monday.

The fintech firm's shareholders approved the reverse stock split at its annual meeting on June 10, and its class A shares will start trading on a split-adjusted basis on Wednesday.

The reverse stock split will result in 97 million class A shares and 8 million class B shares issued and outstanding, the company said.

Shares of Marqeta rose 1.8% in early trading.

Price: $4.25, Change: $+0.07, Percent Change: +1.75%

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