Uber Ordered to Pay $8.5 Million in Bellwether Sexual Assault Lawsuit 
TSMC Eyes 3nm Chip Production in Japan with $17 Billion Kumamoto Investment 
Nvidia Nears $20 Billion OpenAI Investment as AI Funding Race Intensifies 
CK Hutchison Launches Arbitration After Panama Court Revokes Canal Port Licences 
Anthropic Eyes $350 Billion Valuation as AI Funding and Share Sale Accelerate 
Global PC Makers Eye Chinese Memory Chip Suppliers Amid Ongoing Supply Crunch 
Australian Scandium Project Backed by Richard Friedland Poised to Support U.S. Critical Minerals Stockpile 
SpaceX Pushes for Early Stock Index Inclusion Ahead of Potential Record-Breaking IPO 
SpaceX Prioritizes Moon Mission Before Mars as Starship Development Accelerates 
Baidu Approves $5 Billion Share Buyback and Plans First-Ever Dividend in 2026 
Missouri Judge Dismisses Lawsuit Challenging Starbucks’ Diversity and Inclusion Policies 
Prudential Financial Reports Higher Q4 Profit on Strong Underwriting and Investment Gains 
TrumpRx Website Launches to Offer Discounted Prescription Drugs for Cash-Paying Americans 
Nintendo Shares Slide After Earnings Miss Raises Switch 2 Margin Concerns 
Instagram Outage Disrupts Thousands of U.S. Users 
Rio Tinto Shares Hit Record High After Ending Glencore Merger Talks 
Nvidia, ByteDance, and the U.S.-China AI Chip Standoff Over H200 Exports 
CINCINNATI, Oct. 05, 2016 -- Cincinnati Bell Inc. (NYSE:CBB) today announced the completion of its previously announced 1-for-5 reverse stock split of its outstanding and treasury common shares effective as of 11:59 p.m. Eastern Time, on October 4, 2016. As of the open of the market on October 5, 2016, the Company’s common shares will begin trading on a split-adjusted basis on the New York Stock Exchange under the unchanged symbol “CBB”.
No fractional shares were issued in connection with the reverse stock split. Instead, the Company will pay each registered shareholder, in cash, the value of any fractional share interest in the Company’s common shares arising from the reverse stock split. Additional information on the treatment of fractional shares and other effects of the reverse stock split can be found in the Company’s definitive proxy statement filed with the Securities and Exchange Commission on June 17, 2016.
Shareholders with certificated shares will soon receive a transmittal letter from the Company’s transfer agent which will contain instructions on how to surrender certificates representing pre-split common shares. Shareholders should not send in their old stock certificates until they receive the transmittal letter from the transfer agent. Shareholders with book-entry shares or who hold their shares in “street name” through a bank, broker, or other nominee will not need to take any action.
In addition, also effective as of 11:59 pm Eastern Time, on October 4, 2016, the conversion rate of the Company’s 6 ¾% Preferred Shares into common shares automatically changed from 28.838 common shares per 6 ¾% Preferred Share to 5.7676 common shares per 6 ¾% Preferred Share.
About Cincinnati Bell Inc.
With headquarters in Cincinnati, Ohio, Cincinnati Bell Inc. (CBB) provides integrated communications solutions – including local and long distance voice, data, high-speed Internet and video – that keep residential and business customers in Greater Cincinnati and Dayton connected with each other and with the world. In addition, enterprise customers across the United States rely on CBTS, a wholly-owned subsidiary, for efficient, scalable office communications systems and end-to-end IT solutions. For more information, please visit www.cincinnatibell.com.
CONTACT: Cincinnati Bell Inc. Investor contact: Josh Duckworth, +1 513-397-2292 [email protected] Media contact: Jane Weiler, +1 513-397-9941 [email protected]
