June 14, 2010 (FinancialWire) — Arbinet Corp. (NASDAQ: ARBX), a provider of telecommunications services to fixed and mobile operators, said it has filed a certificate of amendment to implement a one-for-four reverse stock split of the company's common stock.

The reverse stock split, which was previously approved by the company's board of directors and stockholders, will took effect on June 11.

Trading of Arbinet's common stock on the NASDAQ Global Market will continue, on a reverse stock split-adjusted basis, with the opening of the markets on June 14.  

The Arbinet board said it believes that the reverse stock split will improve the marketability of Arbinet's common stock by making it more attractive to a broader range of investors.

Arbinet stockholders will receive one new Arbinet share for every four shares that they held prior to the split, and will receive cash in lieu of any fractional shares.

As a result of the reverse stock split, the number of shares of the company's common stock outstanding will be reduced from around 22 million to around 5.5 million shares.

Virginia-based Arbinet is a provider of international voice and IP solutions to carriers and service providers globally.

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