XWELL enacts 1-for-20 reverse stock split effective Sept 27 to regain Nasdaq compliance

XWELL, Inc.

Reverse split reduces outstanding shares from approx 83.5M to 4.17M; effective 5pm ET Sept 27.
Trading on split-adjusted basis begins Sept 28; symbol XWEL unchanged; new CUSIP 98420U 802.
Split aims to raise per-share price to meet Nasdaq $1 minimum bid price requirement.
No fractional shares issued; cash in lieu of fractional shares.

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

XWELL, Inc.: Filed Certificate of Amendment to Amended and Restated Certificate of Incorporation to effect a 1-for-20 reverse stock split (effective 2023-09-27).

Change: charter amendment
Effective: 2023-09-27

Exact text from the filing

On Tuesday, September 26, 2023, XWELL, Inc. (the “Company”) filed a Certificate of Amendment to the Amended and Restated Certificate of Incorporation of the Company (the “Amendment”), to implement a one-for-twenty reverse split of its common stock, par value $0.01 (the “Reverse Split”).

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XWELL, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-23-104093

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