Ideanomics files 1-for-125 reverse stock split to regain Nasdaq $1 bid compliance

IDEANOMICS, INC.

Reverse stock split at 1-for-125 ratio effective August 25, 2023; common shares reduced from ~1.499B to ~11.994M.
Authorized common shares reduced from 1.5B to 12M; par value unchanged at $0.0001 per share.
Split follows April 2023 Nasdaq deficiency notice for failing minimum $1 bid price (closing bid ≤$0.10 for 10 days).
Preferred stock unchanged: 7.0M Series A, 2.1M Series B, and 676,375 Series C shares outstanding.
Amendment corrects description of authorized and outstanding preferred stock; no other changes to original 8-K.

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

IDEANOMICS, INC.: Reverse stock split of common stock at a 1-for-125 ratio via Certificate of Change filed with Nevada Secretary of State (effective 2023-08-25).

Change: charter amendment
Effective: 2023-08-25

Exact text from the filing

On August 22, 2023, the Company filed a Certificate of Change with the Nevada Secretary of State to effect a reverse stock split of the Company's issued and outstanding shares of common stock, par value $0.0001 per share (the "Common Stock"), at a ratio of 1-for-125 (the "Reverse Stock Split"). The Reverse Stock Split became effective at 12:01 am, Eastern Time, on August 25, 2023 (the "Effective Date").

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Source: SEC EDGAR

accession 0001104659-23-100486

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