Upland Software

Upland Software has appointed Jennifer Simon as Chief Financial Officer, effective August 17. Simon brings more than 20 years of financial leadership experience at software and technology companies, most recently as senior vice president of finance at NextGen Healthcare. She will oversee finance, accounting, treasury, tax, FP&A and investor relations, and will report to CEO Sean Nathaniel. Simon succeeds Mike Hill, who is resigning from the CFO position. » More on de.investing.com

Upland Software has met the NASDAQ minimum price rule after the common stock closed at at least $1.00 for ten consecutive trading days as of July 2. The exchange thus considers the matter closed. The stock currently trades at $4.94, down 75% over the past year, but InvestingPro regards the shares as undervalued and expects profitability this year. Upland provides enterprise-intelligence software and serves more than 1,100 corporate customers. » More on de.investing.com

Upland Software shares fell about 5.5% in premarket trading after the company announced a 1:10 reverse split effective June 17. The number of outstanding shares will be reduced from roughly 29.4 million to about 2.9 million; the move is intended to meet Nasdaq’s minimum bid-price requirement. The consolidation was approved by shareholders on June 3, and the board selected the ratio within the authorized range of 1:5 to 1:30. Options, restricted stock awards and the omnibus plan allotment will be adjusted, fractional shares will be paid in cash, the ticker will remain UPLD, and the CUSIP will change. » More on de.investing.com