A Medical Device Daily
GSI Group (Bedford, Massachusetts) reported that the 1 for 3 reverse stock split previously approved by the company's board and shareholders has become effective. Following the reverse stock split, the company has about 33.3 million common shares issued and outstanding. The company's common shares will trade under the symbol LASRD.PK for the next 20 days and will revert to LASR.PK thereafter. The company also reported that it has filed an application to list its common shares on the Nasdaq Global Market and currently expects that Nasdaq will make a decision on the company's application by the end of January 2011. The company's common shares will continue to be quoted on Pink OTC Markets until such time as the shares may be listed on the Nasdaq Global Market, if the company's application is approved by Nasdaq, or another securities exchange.
GSI Group supplies precision technology to the global medical, electronics, and industrial markets and semiconductor systems.