Snowboard Maker Announces Merger

Irvine snowboard manufacturer Action Sports Ltd. on Monday announced plans to merge with Light Wave, a San Diego maker of snowboards and wakeboards. Financial terms were not disclosed.

As part of the deal, Action announced a 1-for-15 reverse stock split. The combined company also will attempt to have its stock listed on the Nasdaq Small-Cap market once the merger is completed.

Action said the reverse split also is designed to help it acquire additional companies.

Action’s stock, which currently is traded over-the-counter, closed Monday at 8 cents a share, down 1 cent.