Safeguard Scientifics to delist from Nasdaq after 1-for-100 reverse split; special dividend $0.35

SAFEGUARD SCIENTIFICS INC

Shareholders approved reverse stock split 1-for-100 followed by forward split 100-for-1 to reduce record holders below 300.
Holders with <100 shares pre-split receive $1.65 per share cash; continuing shareholders' total shares unchanged.
Special cash dividend of $0.35 per share payable Dec 28, 2023; ex-div Dec 29; record Dec 19.
CEO Salzman and CFO Herndon terminated as officers Dec 31, 2023; become temporary employees at $400/hr; Rock Creek outsourced services at $25k/month.
Company will file Form 25 to delist from Nasdaq and Form 15 to terminate SEC reporting obligations.

item 8.01 item 1.01 item 3.01 item 5.02 item 5.07 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Shareholder Votes SEC 8-K Item 5.07 confidence 0.98

SAFEGUARD SCIENTIFICS INC shareholders approved Adopt Articles of Amendment to effect the Reverse Stock Split at the 2023-12-15 meeting.

Proposal: reverse split
Outcome: passed
Meeting: 2023-12-15

Exact text from the filing

The proposal to adopt the Articles of Amendment to the Articles of Incorporation to effect the Reverse Stock Split received the following votes: For Against Abstain 13,035,123 633,278 47,602

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Shareholder Votes SEC 8-K Item 5.07 confidence 0.98

SAFEGUARD SCIENTIFICS INC shareholders approved Adopt Articles of Amendment to effect the Forward Stock Split at the 2023-12-15 meeting.

Proposal: reverse split
Outcome: passed
Meeting: 2023-12-15

Exact text from the filing

The proposal to adopt the Articles of Amendment to the Articles of Incorporation to effect the Forward Stock Split received the following votes: For Against Abstain 12,201,621 1,466,752 47,630

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288 shareholder votes filed in the last 30 days. Browse all shareholder votes →

SAFEGUARD SCIENTIFICS INC filing history →

Source: SEC EDGAR

accession 0001104659-23-126909

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