Express, Inc. executes 1-for-20 reverse stock split, reduces authorized shares to 25M

EXPRESS, INC.

Effective August 30, 2023, every 20 outstanding shares combined into 1 share.
Authorized common stock reduced from 500M to 25M shares.
Fractional shares will be paid in cash (without interest) to stockholders of record.
Reverse split intended to meet NYSE minimum bid price requirement (not stated in filing).

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

EXPRESS, INC.: 1-for-20 reverse stock split and reduction of authorized shares from 500,000,000 to 25,000,000 (effective 2023-08-30).

Change: charter amendment
Effective: 2023-08-30

Exact text from the filing

On August 30, 2023, Express, Inc. (the “Company”) filed a Certificate of Amendment (the “Certificate of Amendment”) to the Company’s Certificate of Incorporation, as amended, with the Secretary of State of the State of Delaware to effect a 1-for-20 reverse stock split (the “Reverse Stock Split”) of the Company’s common stock, par value $0.01 per share (“Common Stock”).

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Source: SEC EDGAR

accession 0001193125-23-226828

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