Mitesco effecting 1-for-50 reverse stock split; targeting NASDAQ uplist

Mitesco, Inc.

Reverse split at 1:50 ratio effective Dec 12, 2022; post-split shares ~4.5 million.
Authorized shares remain 500 million; temporary symbol MITID for 20 business days.
Working with investors/lenders to convert debt to equity to meet NASDAQ equity requirements.
Bylaws amended to set quorum at 33 1/3% per NASDAQ Rule 5620(c).
All outstanding options, warrants, and convertible securities adjusted ratably.

item 5.03 item 8.01 item 9.01

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

Mitesco, Inc.: Amended the Bylaws to provide for a quorum of at least 33 1/3% for any meeting of shareholders.

Change: bylaw amendment

Exact text from the filing

We also recently made a minor change to the Company’s Bylaws to provide for a quorum of at least 33 1/3% for any meeting of the shareholders of common stock as provided by Nasdaq Rule 5620(c) (the " Amended Bylaws ").

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

Mitesco, Inc.: Filed a Certificate of Amendment to the Certificate of Incorporation to effect a 1-for-50 reverse stock split (effective 2022-12-12).

Change: charter amendment
Effective: 2022-12-12

Exact text from the filing

On November 18, 2022, Mitesco, Inc., a Delaware corporation (the “Company”), filed a Certificate of Amendment (the “Certificate of Amendment”) to the Company’s Certificate of Incorporation, as previously amended (“Certificate of Incorporation”), with the Secretary of State of the State of Delaware, to effect a reverse stock split of the Company’s common stock, $0.01 par value per share (“Common Stock”), at a rate of 1-for-50 (the “Reverse Stock Split”).

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83 governance changes filed in the last 30 days. Browse all governance changes →

Mitesco, Inc. filing history →

Source: SEC EDGAR

accession 0001185185-22-001401

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