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Business
Cereplast Seeks Major Listing
by Alexander H. Tullo
January 18, 2010
| A version of this story appeared in
Volume 88, Issue 3
Biobased plastics compounder Cereplast is seeking to list its stock on a major exchange, such as the American Stock Exchange or NASDAQ. Currently, the company has penny stock traded on the Over-The-Counter Bulletin Board. To prepare for such a move, the company will implement a 1-for-40 reverse stock split, is hiring an independent director, and has retained a law firm to help with the paperwork. Separately, Cereplast is closing down manufacturing and R&D operations at its Hawthorne, Calif., headquarters, moving into smaller offices, and transferring equipment to its Seymour, Ind., site.
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