07:41 AM EST, 01/02/2025 (MT Newswires) -- Creative Media & Community Trust ( CMCT ) said Thursday its board had approved a 1-for-10 reverse stock split of its common stock, effective Jan. 6.

The stock will begin to trade on a split-adjusted basis at market open that day with the same ticker symbol, the company said.

It added that no fractional shares will be issued, and stockholders who would otherwise receive a fractional share would instead receive a cash payment based on the Jan. 6 closing price of the stock on Nasdaq.