Tile Shop plans reverse stock split, Nasdaq delisting to cut costs; shares up

Tile Shop Holdings

06/10/2025 23:06

** Shares of Tile Shop TTSH.O rise 10.9% to $6.42 during aftermarket trading

** The board of the retailer of tiles, setting and maintenance materials approves plan to delist from the Nasdaq

** Plan also involves suspending the need to file periodic reports and other information with the SEC and terminate shares following completion of a proposed reverse stock split

** TTSH says plan would come into effect in December 2025, assuming shareholder approval of the proposed reverse split

** Proposed reverse stock split will be at a ratio between 1-for-2,000 and 1-for-4,000, priced at $6.60 per share,  representing a 11.7% premium on Friday's close

** TTSH expects savings of about $2.4 million on an annual basis, resulting from delisting and deregistration

** As of last close, stock had fallen 16.5% YTD

 (Reporting by Aatreyee Dasgupta)

 ((Aatreyee.Dasgupta@thomsonreuters.com))