FuboTV announces planned reverse stock split

Fubo announced a planned reverse stock split of its Class A and Class B common stock at an exchange ratio between one-for-eight to one-for-twelve, with the final ratio to be selected by Fubo‘s board of directors. The reverse stock split has been approved by the board and by unanimous written consent of stockholders representing a majority of the outstanding voting interests of the company. The reverse stock split is intended to make the stock more accessible to a broader base of investors and will reduce the number of outstanding shares of common stock to a level better aligned with the company’s size and scope. Fubo intends to file an information statement on Schedule 14C as required by Securities and Exchange Commission rules. Fubo Class A common stock is expected to begin trading on a split-adjusted basis later this quarter.