---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-004102"
form_type: "8-K"
ticker: "GRDX"
cik: "0001604191"
company_name: "GridAI Technologies Corp."
filed_at: "2023-01-17T23:59:59+00:00"
generated_at: "2026-06-20T14:43:44.211679+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# First Wave BioPharma shareholders approve 1-for-7 reverse stock split; effective Jan 18, 2023

## Summary
- Stockholders approved 1-for-7 reverse stock split; effective 12:01 AM ET Jan 18, 2023.
- Reverse split reduces outstanding shares from ~6.97M to ~995k shares.
- Also approved issuance of >20% of common stock in private placement from Nov 20, 2022 agreement.
- Board set split ratio at 1:7, within approved range of 1:3 to 1:40.
- No fractional shares issued; holders receive cash for fractional interests.

## SEC filing metadata
- accession: 0001104659-23-004102
- form_type: 8-K
- ticker: GRDX
- cik: 0001604191
- company_name: GridAI Technologies Corp.
- filed_at: 2023-01-17T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 3.03, 5.03, 5.07, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1604191/000110465923004102/0001104659-23-004102-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1604191/000110465923004102/tm233436d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-004102
- JSON: https://secwatch.observer/filing/0001104659-23-004102.json
- Plain text: https://secwatch.observer/filing/0001104659-23-004102.txt

## Key facts
- Governance Changes
  GridAI Technologies Corp.: Amended charter to effect a 1-for-7 reverse stock split (effective 2023-01-18).
  - Change: charter amendment
  - Effective: 2023-01-18
  source text: On January 13, 2023, the Company filed the Amendment to its Charter with the Secretary of State of the State of Delaware to effect a reverse stock split of its Common Stock at a ratio of 1-to-7 (the “Reverse Stock Split”). The Reverse Stock Split will become effective in accordance with the terms of the Amendment at 12:01 AM Eastern Time on January 18, 2023 (the “Effective Time”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1604191/000110465923004102/0001104659-23-004102-index.htm
- Shareholder Votes
  GridAI Technologies Corp. shareholders approved Approval of the issuance of more than 20% of our Common Stock pursuant to the private placement and warrant amendment for purposes of Nasdaq Listing Rule 5635(d) at the 2023-01-13 meeting.
  - Outcome: passed
  - Meeting: 2023-01-13
  source text: 1. The Private Placement Proposal. The votes were cast for this matter as follows: Votes For Votes Against Abstentions Broker Non-Votes 528,701 496,698 52,341 1,262,765
  evidence_url: https://www.sec.gov/Archives/edgar/data/1604191/000110465923004102/0001104659-23-004102-index.htm
- Shareholder Votes
  GridAI Technologies Corp. shareholders approved Approval of the adjournment of the Special Meeting to the extent there are insufficient votes at the Special Meeting to approve any one or more of the foregoing proposals at the 2023-01-13 meeting.
  - Outcome: passed
  - Meeting: 2023-01-13
  source text: 3. The Adjournment Proposal. The votes were cast for this matter as follows: Votes For Votes Against Abstentions 1,584,130,826 592,147,779 166,566,900
  evidence_url: https://www.sec.gov/Archives/edgar/data/1604191/000110465923004102/0001104659-23-004102-index.htm
- Shareholder Votes
  GridAI Technologies Corp. shareholders approved Adoption and approval of the Amendment to the Company’s Charter to effect a reverse stock split of the Company’s issued and outstanding shares of Common Stock, at a specific ratio, ranging from one-for-three (1:3) to one-for-forty (1:40) at the 2023-01-13 meeting.
  - Proposal: reverse split
  - Outcome: passed
  - Meeting: 2023-01-13
  source text: 2. The Reverse Stock Split Proposal. The votes were cast for this matter as follows: Votes For Votes Against Abstentions 1,625,633,905 574,231,665 142,979,935
  evidence_url: https://www.sec.gov/Archives/edgar/data/1604191/000110465923004102/0001104659-23-004102-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.