It is important to note that forward-looking statements in the press release, such as the timing of the distribution of additional shares and the initiation of post-split sales, are subject to risks and uncertainties. This could cause actual results to differ materially from those estimated. CorVel, which maintains a GREAT financial health score according to InvestingPro analysis and has achieved 12.66% revenue growth over the past twelve months, disclosed these risks in its annual and quarterly reports filed with the Securities and Exchange Commission. The company stated that it will not update forward-looking statements to reflect events or circumstances. after the date on which they were made, unless otherwise required by law. This announcement is based on a press release from CorVel Corporation.
Effective Monday, for every share of CorVel common stock, shareholders will now own three shares. The distribution of additional shares is scheduled for today, and post-split trading on NASDAQ is expected to begin on Thursday, December 26, 2024.
This strategic move aims to make CorVel's stock more accessible to a broader base of investors by lowering the price per share without affecting the company's stock market. Stock splits are often employed by companies that have seen their share prices increase, making them more attractive to individual investors.
It is important to note that forward-looking statements in the press release, such as the timing of the distribution of additional shares and the initiation of post-split sales, are subject to risks and uncertainties. This could cause actual results to differ materially from those estimated. CorVel disclosed these risks in its annual and quarterly reports filed with the Securities and Exchange Commission.
The company said it will not update forward-looking statements to reflect events or circumstances after the date they are made, unless required by law. This announcement is based on a press release from CorVel Corporation.
In other recent news, CorVel Corporation announced a three-for-one stock split. This decision, approved by the Board of Directors, also includes a proportional increase in the number of authorized shares of common stock. The stock split is subject to the Company's Fourth Amended and Restated Certificate of Incorporation, which is expected to be filed shortly. Following this, each share of common stock held on the record date will be converted into three shares of common stock.
CorVel's President, CEO, and Chairman, Michael G. Combs, explained that this move is the result of the company's stock price growth in recent years, calculated on strong financial performance and strategic initiatives. The split is designed to make the company's stock more accessible to potential investors.
The stock is expected to begin trading on a split basis soon, subject to final approval by the Nasdaq Global Select Market. These are part of the recent developments in the company. However, it is important to note that the company's press releases contain forward-looking statements that are subject to risks and uncertainties. Investors are advised to consider the risk factors disclosed in CorVel's Annual Report and other SEC filings.
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