Marpai announces 1-for-4 reverse stock split to regain Nasdaq compliance, effective June 29, 2023

Marpai, Inc.

Reverse split ratio 1:4; trading begins on split-adjusted basis June 29, 2023 under new CUSIP 571354208.
Authorized shares unchanged at 227,791,050; outstanding reduced from ~29.0M to ~7.25M shares.
No fractional shares issued; any fractional interest results in one additional whole share.
Proportionate adjustments to exercise prices and share counts of options, warrants, convertible securities.
Purpose is to increase stock price to meet Nasdaq's $1.00 minimum bid price continued listing requirement.

item 5.03 item 8.01 item 9.01

Key facts

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Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

Marpai, Inc.: Reverse stock split at 1-for-4 ratio (effective 2023-06-29).

Change: charter amendment
Effective: 2023-06-29

Exact text from the filing

Effective as of June 29, 2023, Marpai, Inc. (the “Company”) effected a reverse stock split of its outstanding shares of Class A common stock (the “common stock”) at a ratio of one-for-four (the “Reverse Split”).

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Marpai, Inc. filing history →

Source: SEC EDGAR

accession 0000950170-23-030533

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