Virgin Galactic Holdings, Inc. (SPCE) has announced a 1-for-20 reverse stock split, scheduled to take effect before the market opens on June 17, 2024. Following the reverse split, each existing SPCE Common Share will be converted into 0.05 new shares of Virgin Galactic Holdings, Inc. Consequently, the option symbol for the company will change from SPCE to SPCE1. The new CUSIP number for the post-split shares will be 92766K403. The adjustments to the options contracts will include a new multiplier of 100 and a new deliverable per contract of 5 new common shares of Virgin Galactic. This corporate event is expected to impact pricing and the valuation of options and futures contracts.

Virgin Galactic Holdings, Inc. (SPCE) has announced a 1-for-20 reverse stock split, scheduled to take effect before the market opens on June 17, 2024. Following the reverse split, each existing SPCE Common Share will be converted into 0.05 new shares of Virgin Galactic Holdings, Inc. Consequently, the option symbol for the company will change from SPCE to SPCE1. The new CUSIP number for the post-split shares will be 92766K403. The adjustments to the options contracts will include a new multiplier of 100 and a new deliverable per contract of 5 new common shares of Virgin Galactic. This corporate event is expected to impact pricing and the valuation of options and futures contracts.