secwatch.observer — SEC 8-K summary
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Issuer:     GridAI Technologies Corp. (GRDX)
CIK:        0001604191
Form:       8-K
Filed at:   2023-12-14T23:59:59+00:00
Accession:  0001104659-23-125896
Event type: other_material
Sentiment:  neutral
Materiality: 0.40
Item codes: 3.03, 5.03, 5.07, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

First Wave BioPharma announces 1-for-20 reverse stock split effective Dec 18 to regain Nasdaq compliance
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1604191/000110465923125896/0001104659-23-125896-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1604191/000110465923125896/tm2332859d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-125896

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