Biora shareholders approve 10:1 reverse stock split effective Oct 18; authorized shares reduced to 255M

BIORA THERAPEUTICS, INC.

Stockholders approved reverse stock split at ratio from 3:1 to 15:1; board set 10:1.
Effective time of reverse split is 12:01 a.m. Eastern on October 18, 2024.
Authorized shares reduced from 300 million to 255 million shares.
Proportionate adjustments to convertible notes and equity awards.
Voting results: 19,349,243 for, 4,867,765 against reverse split.

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

BIORA THERAPEUTICS, INC.: Amendment to certificate of incorporation to effect a 10:1 reverse stock split and reduce authorized shares from 300M to 255M, effective October 18, 2024 (effective 2024-10-18).

Change: charter amendment
Effective: 2024-10-18

Exact text from the filing

To effect the Reverse Stock Split and the Authorized Shares Reduction, the Company filed an amendment to its Eighth Amended and Restated Certificate of Incorporation, as amended, with the Secretary of State of the State of Delaware (the “ Amendment ”). As of the Effective Time, each 10 shares of Common Stock outstanding will be combined, automatically and without any action on the part of the Company or its stockholders, into one new share of Common Stock.

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Source: SEC EDGAR

accession 0000950170-24-114214

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