Dave Inc. effects 1-for-32 reverse stock split to meet Nasdaq bid price requirement

Dave Inc./DE

Reverse stock split effective 5:01 PM ET Jan 5, 2023; split-adjusted trading as DAVE on Jan 6.
Implied post-split price ~$9.44; intended to regain compliance with Nasdaq $1 minimum bid.
Every 32 shares become 1 share; no fractional shares; cash in lieu for fractional entitlements.
Proportionate adjustments to equity awards, warrants; authorized shares and par value unchanged.

item 3.03 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

Dave Inc./DE: 公司通过提交修正证书修订公司章程，以1:32的比例进行反向股票分割 (effective 2023-01-05).

Change: charter amendment
Effective: 2023-01-05

Exact text from the filing

On January 5, 2023, the Company filed with the Secretary of State of the State of Delaware a certificate of amendment (the “Certificate of Amendment”) to amend the Company’s Certificate of Incorporation to effect the Reverse Stock Split as of 5:01 p.m., Eastern Time on January 5, 2023.

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Dave Inc./DE filing history →

Source: SEC EDGAR

accession 0001193125-23-002529

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