8-K
filed April 4, 2024, 7:59 PM ET
ticker SMSI
CIK 0000948708
regulatory
confidence high
sentiment neutral
materiality 0.60
Smith Micro approves 1-for-8 reverse stock split to regain Nasdaq compliance
SMITH MICRO SOFTWARE, INC.
- Ratio of 1:8 approved by Board after stockholder vote; effective 11:59 p.m. ET on April 10, 2024.
- Stockholders voted 37,603,017 for, 14,922,078 against at special meeting on April 3, 2024.
- Outstanding shares will reduce from ~76,805,280 to ~9,600,660; authorized shares unchanged.
- Purpose is to increase share price to meet Nasdaq minimum bid price requirement.
- No fractional shares; rounding up to nearest whole share; CUSIP becomes 832154405.
Key facts
Extracted from this filing and checked against the source text.
Governance Changes
SEC 8-K Item 5.03/5.05/5.06
confidence 0.9
SMITH MICRO SOFTWARE, INC.: Filed a certificate of amendment to the Certificate of Incorporation to effect a one-for-eight reverse stock split, effective at 11:59 p.m. ET on April 10, 2024 (effective 2024-04-10).
- Change
- charter amendment
- Effective
- 2024-04-10
Exact text from the filing
On April 3, 2024, a Special Committee of the Company’s Board of Directors approved a final reverse stock split ratio of one-for-eight (1:8). Following such approval, the Company filed a certificate of amendment to the Certificate of Incorporation (the “Amendment”) with the Secretary of State of the State of Delaware to effect the reverse stock split, with an effective time of 11:59 p.m., Eastern Time on April 10, 2024.
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
SMITH MICRO SOFTWARE, INC. shareholders approved Adjournment of the Special Meeting at the 2024-04-03 meeting.
- Outcome
- passed
- Meeting
- 2024-04-03
Exact text from the filing
Proposal No. 2 – Approval of the Adjournment of the Special Meeting, if necessary, to solicit additional proxies if there are insufficient votes at the time of the Special Meeting to approve Proposal One (Reverse Stock Split Proposal). For Against Abstain Broker Non Vote 41,860,779 10,784,040 137,994 0
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
SMITH MICRO SOFTWARE, INC. shareholders approved Reverse Stock Split Proposal at the 2024-04-03 meeting.
- Proposal
- reverse split
- Outcome
- passed
- Meeting
- 2024-04-03
Exact text from the filing
Proposal No. 1 – Approval of the Reverse Stock Split Proposal. For Against Abstain Broker Non Vote 37,603,017 14,922,078 257,718 0
View on SEC.gov
This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice.
See methodology for how this pipeline works.