SAB Biotherapeutics effects 1-for-10 reverse stock split to maintain Nasdaq listing

SAB Biotherapeutics, Inc.

Reverse split effective 12:01 a.m. ET Jan 5, 2024; reduces outstanding shares from ~92.25M to ~9.225M.
Stockholders approved at Jan 2, 2024 special meeting with 59,076,836 votes for, 3,409,403 against.
Warrants (SABSW) adjusted: every 10 warrants now exercisable for 1 share at $115.00 per share.
New CUSIP for common stock (SABS) is 78397T202; fractional shares paid in cash.
Split intended to bring SABS above Nasdaq minimum bid price requirement and maintain listing.

item 3.03 item 5.03 item 5.07 item 7.01 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

SAB Biotherapeutics, Inc.: Filed Certificate of Amendment to effect a 1-for-10 reverse stock split of common stock (effective 2024-01-02).

Change: charter amendment
Effective: 2024-01-02

Exact text from the filing

On January 2, 2024, the Company filed a Certificate of Amendment (the “Certificate of Amendment”) to amend the Company’s certificate of incorporation, as amended and restated (the “Charter”), with the Secretary of State of the State of Delaware to effect the Reverse Stock Split.

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Shareholder Votes SEC 8-K Item 5.07 confidence 0.9

SAB Biotherapeutics, Inc. shareholders approved Reverse Stock Split Proposal to authorize the Board to amend the Charter to effect a reverse stock split.

Proposal: reverse split
Outcome: passed

Exact text from the filing

Stockholders approved a proposal to authorize the Board, in its discretion but prior to the one-year anniversary of the date on which the proposal is approved by the Company’s stockholders at the Special Meeting, to amend the Charter to effect a reverse stock split of all of the outstanding shares of the Common Stock, at a ratio in the range of 2-for-3 to 1-for-10, with such ratio to be determined by the Board. This Proposal 1 is referred to as the “Reverse Stock Split Proposal”. The voting results were as follows: Votes For Votes Against Abstentions 59,076,836 3,409,403 28,811

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SAB Biotherapeutics, Inc. filing history →

Source: SEC EDGAR

accession 0000950170-24-000543

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