I would like some clarification on why my portfolio still shows that I own 1 share of CYTX at an average cost of $3.90, when in reality, I purchased 1 share for $0.39 several months ago? From what I've read, when you own less shares than the rever split, you are forced to cash out. Why is it not the case here?
If you have fractional shares after a reverse split, for the fractional shares you may receive:
A cash-in-lieu payment
Additional shares to round up to a whole number
It all depends on what terms the company chooses
The fate of odd share amounts will be spelled out in the notice sent to share holders related to the split, reverse split, merger, acquisition, or whatever other share event.
It seems this particular reverse split simply rounded up to the next whole share.