Applied DNA to effect 1-for-20 reverse stock split on April 25, 2024 to regain Nasdaq compliance

BNB PLUS CORP.

Reverse stock split at 1:20 ratio effective 12:01 a.m. ET on April 25, 2024; shares trade split-adjusted at market open.
Outstanding shares reduced from ~17.26M to ~863,000; par value unchanged at $0.001 per share.
Stockholders approved reverse split at April 15 special meeting (ratio range 1:5 to 1:50); Board set final ratio 1:20.
Split intended to regain Nasdaq minimum bid price compliance of $1.00 per share.
No fractional shares issued; fractional shares rounded up to nearest whole share; new CUSIP is 03815U409.

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

BNB PLUS CORP.: Reverse stock split at 1-for-20 ratio via amendment to certificate of incorporation (effective 2024-04-25).

Change: charter amendment
Effective: 2024-04-25

Exact text from the filing

The Board determined to set the reverse stock split ratio at one-for-twenty (1:20) (the “Reverse Stock Split”) and approved the final form of the Certificate of Amendment to the Certificate of Incorporation to effectuate the Reverse Stock Split

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BNB PLUS CORP. filing history →

Source: SEC EDGAR

accession 0001104659-24-050056

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