Leafly effectuates 1-for-20 reverse stock split to meet Nasdaq minimum bid price

Leafly Holdings, Inc. /DE

Reverse stock split effective September 12, 2023; every 20 shares convert to 1 share.
Common stock continues trading under symbol LFLY; new CUSIP 52178J303.
Proportional adjustments to equity awards, warrants, and convertible notes; no fractional shares issued, rounding up.
Stockholders approved split on July 12, 2023; board set ratio August 16, 2023.
Goal to regain compliance with Nasdaq $1.00 minimum bid price; no guarantee of compliance.

item 3.03 item 5.03 item 7.01 item 8.01 item 9.01

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

Leafly Holdings, Inc. /DE: Reverse stock split via Certificate of Amendment to Second Amended and Restated Certificate of Incorporation (effective 2023-09-12).

Change: charter amendment
Effective: 2023-09-12

Exact text from the filing

On September 8, 2023, Leafly Holdings, Inc. (the “Company”) filed a Certificate of Amendment to its Second Amended and Restated Certificate of Incorporation with the Secretary of State of the State of Delaware to effect a one-for-twenty (1-for-20) reverse stock split (the “Reverse Stock Split”) of its common stock, par value $0.0001 (the “Common Stock”), effective on September 12, 2023 at 12:01 am Eastern Time (the “Effective Time”).

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Source: SEC EDGAR

accession 0000950170-23-047403

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