ATI Physical Therapy approves 1-for-50 reverse stock split to regain NYSE compliance

ATI Physical Therapy, Inc.

Reverse split at 1-for-50 ratio effective 4:01pm ET June 14, 2023; trading on split-adjusted basis June 15.
Intended to regain compliance with NYSE minimum bid price continued listing requirement.
No fractional shares; fractional interests rounded up to next whole share.
Outstanding warrants adjusted: 50 warrants become exercisable for 1 share at $575.00 per share.
New CUSIP for Class A common stock: 00216W208; trading symbol remains ATIP.

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

ATI Physical Therapy, Inc.: Amendment to Certificate of Incorporation to effect a 1-for-50 reverse stock split of Class A Common Stock (effective 2023-06-14).

Change: charter amendment
Effective: 2023-06-14

Exact text from the filing

On June 14, 2023, ATI Physical Therapy, Inc. (the “Company”) filed a Certificate of Amendment to its Third Amended and Restated Certificate of Incorporation (the “Amendment”) with the Secretary of State of the State of Delaware to effect a one-for-fifty (1-for-50) reverse stock split (the “Reverse Stock Split”) of its outstanding Class A Common Stock, par value $0.0001 per share (the “Common Stock”).

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Source: SEC EDGAR

accession 0001140361-23-029837

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