Boxlight approves 1-for-8 reverse stock split to regain Nasdaq bid price compliance

Boxlight Corp

Reverse split effective 5:01 p.m. ET June 14, 2023; trades split-adjusted under 'BOXL' from June 15.
Every 8 existing shares become 1 share; authorized shares reduced from 150M to 18.75M.
Split aims to raise per-share price above $1.00 to meet Nasdaq Listing Rule 5550(a)(2).
No fractional shares issued; fractional interests rounded up to nearest whole share.
Proportionate adjustments applied to equity awards, warrants, and convertible preferred conversion rates.

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 0.95

Boxlight Corp: Approved a 1-for-8 reverse stock split of Class A Common Stock through a Certificate of Change filed with the Nevada Secretary of State, reducing authorized shares from 150,000,000 to 18,750,000 (effective 2023-06-14).

Change: charter amendment
Effective: 2023-06-14

Exact text from the filing

The board of directors (“Board”) of Boxlight Corporation, a Nevada corporation (the “Company”), has approved a reverse stock split of the Company’s authorized, issued and outstanding shares of Class A common stock, par value $0.0001 per share (“Class A Common Stock”), at a ratio of 1-for-8 (the “Reverse Stock Split”). The Reverse Stock Split will become effective as of 5:01 p.m. eastern standard time on June 14, 2023

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Source: SEC EDGAR

accession 0001104659-23-070796

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