GSI Group Inc. (Pink Sheets: LASR) (the “Company” or “GSI“) announced that the 1 for 3 reverse stock split previously approved by the Company’s Board of Directors and shareholders became effective today at the open of business. Following the reverse stock split, the Company has approximately 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 announced 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 Inc. 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.
About GSI Group Inc.
GSI Group Inc. supplies precision technology to the global medical, electronics, and industrial markets and semiconductor systems. GSI Group Inc.’s common shares are quoted on Pink OTC Markets Inc. (LASR.PK).
More information about GSI is available on the company’s website at www.gsig.com.