8-K
filed December 14, 2023, 6:59 PM ET
ticker GRDX
CIK 0001604191
other material
confidence high
sentiment neutral
materiality 0.40
First Wave BioPharma announces 1-for-20 reverse stock split effective Dec 18 to regain Nasdaq compliance
GridAI Technologies Corp.
- Stockholders approved all four proposals at Dec 12 special meeting, including reverse split and share increase.
- Reverse split ratio set at 1-for-20; effective 12:01 a.m. ET Dec 18, 2023.
- Shares outstanding will reduce from ~13.5M to ~675,000; no fractional shares, cash for fractions.
- Authorized common shares increased from 50M to 100M.
- Purpose is to regain compliance with Nasdaq $1.00 minimum bid price requirement.
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
GridAI Technologies Corp.: Filed amendment to increase authorized shares and effect a 1-for-20 reverse stock split (effective 2023-12-18).
- Change
- charter amendment
- Effective
- 2023-12-18
Exact text from the filing
On December 13, 2023, the Company filed the Amendment to its Charter with the Secretary of State of the State of Delaware to increase the total number of authorized shares of Common Stock by 50,000,000 shares to 100,000,000 shares and to effect a reverse stock split of its Common Stock at a ratio of 1-to-20 (the “Reverse Stock Split”).
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.95
GridAI Technologies Corp. shareholders approved Approval of the adjournment of the Special Meeting to the extent there are insufficient votes at the Special Meeting to approve any one or more of the foregoing proposals at the 2023-12-12 meeting.
- Outcome
- passed
- Meeting
- 2023-12-12
Exact text from the filing
The votes were cast for this matter as follows: Votes For Votes Against Abstentions 3,833,578 1,139,463 27,691
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.95
GridAI Technologies Corp. shareholders approved Adoption and approval of the Amendment to the Company's Charter to effect a reverse stock split of the Company's issued and outstanding shares of Common Stock, at a specific ratio, ranging from one-for-ten (1:10) to one-for-twenty (1:20) at the 2023-12-12 meeting.
- Proposal
- reverse split
- Outcome
- passed
- Meeting
- 2023-12-12
Exact text from the filing
The votes were cast for this matter as follows: Votes For Votes Against Abstentions 3,402,578 1,581,860 16,294
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.95
GridAI Technologies Corp. shareholders approved Adoption and approval of the amendment to our Company's Charter to increase the total number of authorized shares of Common Stock by 50,000,000 shares to 100,000,000 shares at the 2023-12-12 meeting.
- Proposal
- charter amendment
- Outcome
- passed
- Meeting
- 2023-12-12
Exact text from the filing
The votes were cast for this matter as follows: Votes For Votes Against Abstentions 3,191,201 1,793,825 15,707
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.95
GridAI Technologies Corp. shareholders approved Ratification of the Company's entry into a securities purchase agreement on July 18, 2023, with certain purchasers and issuance thereto of an aggregate of 610,000 shares of Common Stock, pre-funded warrants to purchase up to 2,675,000 shares, and common warrants to purchase up to 6,570,000 shares at the 2023-12-12 meeting.
- Proposal
- auditor ratification
- Outcome
- passed
- Meeting
- 2023-12-12
Exact text from the filing
The votes were cast for this matter as follows: Votes For Votes Against Abstentions 1,103,896 601,958 125,522
View on SEC.gov
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