September 18, 2017 / 11:15 AM / a year ago

BRIEF-National Research Corp says co adopts class B reverse stock split

Sept 18 (Reuters) - National Research Corp

* National Research Corp - co adopts class B reverse stock split to eliminate public trading of class B common stock​

* National Research Corp - ‍class A common stock to be sole publicly traded security of company​

* National Research -each holder of class B common stock,other than CEO Michael Hays,will receive cash payment of $53.44 for each share of class B stock​

* National Research Corp - ‍transaction will be funded by approximately $31 million of cash on hand and a $70 million term loan​

* National Research Corp - ‍has received a commitment letter from first national bank of Omaha to fund a new $100 million credit facility​

* National Research Corp - ‍transaction will not impact outstanding number of class A shares​

* National Research Corp - ‍it is currently anticipated that board of directors will maintain company's cash dividends​ Source text for Eikon: Further company coverage:

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