TEMPE, Ariz., Nov. 17 -- Three-Five Systems Inc. announced that its board of directors has authorized a four-for-three stock split in the form of a stock dividend to shareholders of record as of December 3, 1999. Shareholders will receive one additional share of common stock for every three shares held on that date.
Three-Five's board decided to split the shares following the completion of the company's successful issuance of approximately 2.3 million shares in a secondary offering. Shares of Three-Five closed October 12 at $32.375, up approximately 67 percent from the offering price of $19.375 on September 27, 1999.