Opendoor Technologies Inc. filed a preliminary proxy statement seeking stockholder approval for amendments to its Certificate of Incorporation to effect a discretionary reverse stock split. The proposed ratio ranges from 1-for-10 to 1-for-50, with the exact ratio to be determined by the Board of Directors.
A Special Meeting of Stockholders is scheduled for July 28, 2025, to vote on this proposal. CFO Selim Freiha stated that this initiative is intended to support long-term shareholder value and preserve the company's listing on The Nasdaq Global Select Market.
The Board's decision on whether and when to implement the reverse stock split will consider market conditions, the historical and expected trading price of the common stock, and the continued listing requirements of Nasdaq. This action addresses concerns regarding the company's stock price and its compliance with exchange rules.
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