ExpressJet Holdings, Inc. can return to trading on all NYSE Group platforms after stockholders approved a 1:10 reverse stock split of its common stock. The reverse stock split, as previously announced, is part of ExpressJet's continuing efforts toward improving liquidity for its stockholders. The 1:10 reverse split will allow ExpressJet puts the company in compliance with the continued listing standards of the New York Stock Exchange once the six month cure period expires on January 18, 2009.
As a result of the reverse stock split, every 10 shares of ExpressJet common stock will be combined into one share of ExpressJet common stock and be traded under a new CUSIP, 30218U306. ExpressJet's common stock will begin trading on a split-adjusted basis when the market opens today. ExpressJet will continue to trade under the same symbol, XJT. The reverse stock split affects all shares of common stock and stock options of ExpressJet outstanding immediately prior to the effective time of the reverse stock split. ExpressJet will pay cash in lieu of fractional shares, as required.