FOR IMMEDIATE RELEASE
SPACEHAB COMPLETES ONE-FOR-TEN REVERSE STOCK SPLIT
Houston, Texas, November 28, 2007 – SPACEHAB, Incorporated (NASDAQ: SPAB), a leading provider of commercial space services, today announced that it had effected the one-for-ten reverse split of its common stock. The reverse stock split was approved by SPACEHAB stockholders at a special meeting on November 20, 2007 and is effective at the open of the stock market on November 29, 2007.
In accordance with customary NASDAQ procedures relating to reverse stock splits, upon tomorrow's market open, SPACEHAB's stock will begin trading on a split-adjusted basis under the trading symbol "SPABD" for a period of 20 trading days. At the open of the stock market on December 28, 2007, SPACEHAB's common stock will resume trading under the symbol "SPAB".
Following the conversion of its shares of preferred stock into shares of common stock and tomorrow's reverse split, SPACEHAB will have approximately 13,557,000 shares of common stock outstanding.
SPACEHAB's stock transfer agent will be distributing materials with which stockholders of record can submit the certificates that represent their pre-reverse split shares to be exchanged for certificates that represent post-reverse split shares.About SPACEHAB,
Incorporated
SPACEHAB is a commercial leader and entrepreneurial force in the space
industry providing a full spectrum of products and services to both the
government and private sectors. The Company offers space access and payload
integration services, production of valuable commercial products in space,
spacecraft pre-launch processing facilities and services, development
and extension of space-based products to the consumer market, and program
and engineering support ranging from development and manufacturing of
flight hardware to large scale government project management.
The statements in this document may contain forward-looking statements that are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks, trends, and uncertainties that could cause actual results to be materially different from the forward-looking statement. These factors include, but are not limited to, continued government support and funding for key space programs, product performance and market acceptance of products and services, as well as other risk factors and business considerations described in the company's Securities & Exchange Commission filings including the annual report on Form 10-K. Any forward-looking statements in this document should be evaluated in light of these important risk factors. The Company assumes no obligation to update these forward-looking statements.
For more information, contact:
Eva-Marie deCardenas |