Cerplex Reverse Stock Split OKd

Shareholders of Tustin-based Cerplex Group Inc. have approved a 1-for-10 reverse stock split, decreasing the number of shares of common stock outstanding to 7.2 million from 72 million, the company said. The company, a provider of computer services, was created from the merger April 30 of Cerplex and Aurora Electronics.

The company also said it has received an additional infusion of $5 million from its largest shareholder, New York-based private capital company Welsh, Carson, Anderson & Stowe. If the amount is not repaid in a year, it will be exchanged for equity or debt securities, Cerplex said.