secwatch.observer — SEC 8-K summary
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Issuer:     Palladyne AI Corp. (PDYN)
CIK:        0001826681
Form:       8-K
Filed at:   2023-06-20T23:59:59+00:00
Accession:  0000950170-23-028943
Event type: other_material
Sentiment:  negative
Materiality: 0.60
Item codes: 3.03, 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Sarcos announces 1-for-6 reverse stock split to comply with Nasdaq minimum bid price
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- Reverse stock split ratio 1-for-6, effective July 5, 2023 at 4:01 p.m. ET.
- Authorized shares reduced from 990M to 165M; par value unchanged at $0.0001.
- Trading on post-split basis begins July 6, 2023 under same ticker STRC.
- Split intended to meet Nasdaq $1.00 minimum bid price requirement for continued listing.
- Proportionate adjustments to warrants, options, RSUs; fractional shares paid in cash.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1826681/000095017023028943/0000950170-23-028943-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1826681/000095017023028943/strc-20230620.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-028943

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