Broadway Financial Corporation completes 1-for-8 reverse stock split, effective November 1, 2023

BROADWAY FINANCIAL CORP \DE\

Every 8 shares of Common Stock combined into 1 share; no fractional shares issued; fractions paid in cash.
Outstanding shares reduced from pre-split count to approximately 9,019,187 shares.
Reverse split approved by Board on Sep 20, 2023, and by stockholders on Jun 21, 2023.
Class A shares began trading on Nasdaq on post-split basis Nov 1, 2023, under new CUSIP 111444709.
Fractional shares rounded down; cash payment based on closing price on trading day before effective date.

Key facts

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Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

BROADWAY FINANCIAL CORP \DE\: Filed amendment to certificate of incorporation to effect a 1-for-8 reverse stock split of common stock (effective 2023-11-01).

Change: charter amendment
Effective: 2023-11-01

Exact text from the filing

On October 30, 2023, Broadway Financial Corporation (the “Company”) filed an amendment to the certificate of incorporation of the Company (the “Stock Split Amendment”) with the Secretary of State of the State of Delaware to effect a reverse stock split of the Company’s outstanding shares of Class A common stock, Class B common stock, and Class C common stock, par value $0.01 per share (collectively, the “Common Stock”), at a ratio of 1-for-8 (the “Reverse Stock Split”).

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BROADWAY FINANCIAL CORP \DE\ filing history →

Source: SEC EDGAR

accession 0001140361-23-050802

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