Charles & Colvard announces 1:10 reverse stock split to comply with Nasdaq $1.00 minimum bid price

CHARLES & COLVARD LTD

Reverse stock split at 1:10 ratio effective 12:01 a.m. ET on May 17, 2024.
Issued shares reduce from ~30.3M to ~3.0M; authorized shares unchanged.
Intended to regain compliance with Nasdaq's $1.00 minimum bid price for continued listing.
Ticker remains CTHR; new CUSIP 159765205; trading begins split-adjusted on May 17.
Proportionate adjustments made to equity awards under stock incentive plans.

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

CHARLES & COLVARD LTD: Amendment to Articles of Incorporation to effect a 1-for-10 reverse stock split (effective 2024-05-17).

Change: charter amendment
Effective: 2024-05-17

Exact text from the filing

On May 14, 2024, the Company filed the Articles of Amendment to the Articles of Incorporation (the “Amendment”) with the North Carolina Secretary of State, with an effective time of 12:01 a.m., Eastern Time on May 17, 2024 (the “Effective Date”).

View on SEC.gov

Browse all governance changes →

Source: SEC EDGAR

accession 0001104659-24-061659

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.