Lannett Company effectuates 1-for-4 reverse stock split effective Feb 6, 2023

LANNETT CO INC

Reverse stock split ratio 1-for-4; effective 5:00 PM ET on February 6, 2023.
Common stock trades on NYSE split-adjusted under ticker LCI with new CUSIP 516012 200 starting Feb 7.
Authorized common shares reduced from 100,000,000 to 25,000,000; outstanding shares adjusted proportionately.
No fractional shares issued; cash in lieu from aggregate sale of fractional shares by transfer agent.
Stockholders approved the split at Jan 25, 2023 annual meeting; board set ratio and filed certificate Feb 3.

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

LANNETT CO INC: Reverse stock split at 1-for-4 ratio with corresponding reduction in authorized shares, effected by Certificate of Amendment to Certificate of Incorporation (effective 2023-02-06).

Change: charter amendment
Effective: 2023-02-06

Exact text from the filing

On February 3, 2023, the Company filed with the Secretary of State of the State of Delaware a Certificate of Amendment to its Certificate of Incorporation (the “Certificate of Amendment”) to effect the Reverse Stock Split. The Reverse Stock Split became effective as of 5:00 p.m. Eastern Time on February 6, 2023.

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Source: SEC EDGAR

accession 0001104659-23-011491

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