Safeguard Scientifics board approves plan to go private via stock splits, delist from Nasdaq

SAFEGUARD SCIENTIFICS INC

Reverse stock split (1:50 to 1:100) followed by forward split; small holders cashed out at $1.65/share.
Estimated 4,305 shares (0.026% outstanding) cashed out; aggregate cost ~$1.2M (cash-on-hand).
Annual cost savings projected at ~$1.5M cash and ~$1.2M stock-based compensation reduction.
CEO Eric Salzman to depart Dec 31, 2023; board to reduce to two members; external service provider planned.
Company anticipates declaring dividend in Q4 2023, subject to board approval.

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