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It’s crucial to understand that the press release includes forward-looking statements regarding the timing of new share distributions and the start of post-split trading, which are subject to various risks and uncertainties. These could lead to actual outcomes that differ significantly from those anticipated. CorVel, recognized for its excellent financial health according to InvestingPro’s assessments, has recorded a 12.66% revenue growth over the past year and has highlighted these risks in its annual and quarterly reports filed with the Securities and Exchange Commission. The company clarified that it will not revise forward-looking statements based on later events or circumstances unless legally obligated to do so. This information is drawn from a press release by CorVel Corporation.
Beginning Monday, for every share of CorVel’s common stock owned, shareholders will receive three shares. The distribution of the additional shares is set for today, while post-split trading on NASDAQ is anticipated to begin on Thursday, December 26, 2024.
This strategic initiative aims to enhance the accessibility of CorVel’s stock for a wider range of investors by reducing the share price without impacting the company’s market capitalization. Stock splits are typically utilized by companies experiencing significant increases in share prices, making it more appealing to individual investors.
It’s essential to reiterate that the forward-looking statements mentioned in the press release regarding the share distributions and post-split trading are subject to risks and uncertainties, which may cause actual results to differ materially from expectations. CorVel has detailed these risks in its annual and quarterly SEC filings.
The company has also stated that it will not amend forward-looking statements based on subsequent events or circumstances unless required by law. This announcement is in accordance with a press release from CorVel Corporation.
In other recent developments, CorVel Corporation has approved a three-for-one forward stock split, a decision made by the Board of Directors. This includes a proportional increase in the number of authorized shares of common stock. Completion of the stock split depends on an amendment to the company’s Fourth Amended and Restated Certificate of Incorporation, which is set to be filed shortly. After the record date, each share of common stock will be converted into three shares.
Michael G. Combs, CorVel’s President, CEO, and Chairman, stated that this decision stems from the company’s notable stock price appreciation over recent years, attributed to solid financial performance and strategic initiatives. The split aims to make the stock more attractive to potential investors.
The stock is expected to start trading on a post-split basis shortly, pending final approval from the Nasdaq Global Select Market. These represent the latest developments within the company. Nonetheless, it is vital to note that the company’s press release contains forward-looking statements that are subject to risks and uncertainties. Investors are encouraged to review the risk factors outlined in CorVel’s Annual Report and other SEC filings.
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