secwatch.observer — SEC 8-K summary
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Issuer:     GYRE THERAPEUTICS, INC. (GYRE)
CIK:        0001124105
Form:       8-K
Filed at:   2023-06-20T23:59:59+00:00
Accession:  0001140361-23-030517
Event type: other_material
Sentiment:  negative
Materiality: 0.65
Item codes: 3.03, 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Catalyst creates super-voting Series Y Preferred to ensure reverse stock split approval
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- Board declared dividend of one one-thousandth of a share of Series Y Preferred for each common share, record date June 30, 2023.
- Each one-thousandth of a share of Series Y Preferred entitles holder to 250 votes, but only on a reverse stock split proposal.
- Series Y Preferred cannot be transferred separately from common shares, and will be redeemed at $0.001 per whole share after the vote.
- Series Y Preferred ranks senior to common but junior to Series X Preferred and CVRs; no dividend rights, only liquidation preference of $0.001 per share.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1124105/000114036123030517/0001140361-23-030517-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1124105/000114036123030517/brhc20054638_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-23-030517

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