Inspirato effects 1-for-20 reverse stock split to regain Nasdaq $1 bid compliance

Inspirato Inc

Reverse split effective at close Oct 16, 2023; trading on split-adjusted basis begins Oct 17 under ISPO.
Ratio 1:20 applied to all classes of common and preferred stock; authorized shares reduced proportionally.
Outstanding warrants and options adjusted: every 20 pre-split warrants become exercisable for 1 share at $230.
Company took action after stockholders approved reverse split proposal at Sept 26 special meeting.
No fractional shares issued; cash in lieu based on prior day's closing price.

item 1.01 item 3.03 item 5.03 item 8.01 item 9.01

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

Inspirato Inc: Certificate of Amendment filed to effect a 1-for-20 reverse split of common stock and preferred stock, effective October 16, 2023 (effective 2023-10-16).

Change: charter amendment
Effective: 2023-10-16

Exact text from the filing

On October 16, 2023, the Company filed a certificate of amendment to the Company’s certificate of incorporation (the “Certificate of Amendment”) with the Secretary of State of the State of Delaware to effect a 1-for-20 reverse split (the “Reverse Split”) of the outstanding shares of the Company’s Class A common stock, par value $0.0001 per share (“Class A common stock”), Class B non-voting common stock, par value $0.0001 per share ( “Class B common stock”), Class V common stock, par value $0.0001 per share ( “Class V common stock,” and together with Class A common stock and Class B common stock, “Common Stock”), and preferred stock, par value $0.0001 per share (“Preferred Stock”), effective as of October 16, 2023 (the “Effective Time”).

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Source: SEC EDGAR

accession 0001104659-23-109710

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