Akerna Corp. announces 20-for-1 reverse stock split effective Nov 8 to regain Nasdaq compliance

American Bitcoin Corp.

Reverse split ratio 20-for-1 reduces outstanding shares from ~80.4M to ~4.0M.
Effective 12:01 a.m. ET Nov 8, 2022; split-adjusted trading starts Nov 8 under KERN.
Stockholders approved at special meeting on Nov 7 with ~93.77% votes in favor.
Reverse split intended to meet Nasdaq minimum bid price requirement.
No fractional shares issued; all fractional shares rounded up to nearest whole share.

item 3.03 item 5.03 item 5.07 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

American Bitcoin Corp.: Amended certificate of incorporation to effect a 20-for-1 reverse stock split, effective November 8, 2022 at 12:01 a.m. ET (effective 2022-11-08).

Change: charter amendment
Effective: 2022-11-08

Exact text from the filing

Immediately after the Special Meeting, on November 7, 2022, pursuant to the authorization of our Board of Directors (the “Board”), we filed a Second Amendment to the Company’s Amended and Restated Certificate of Incorporation (the “Certificate of Amendment”) with the Secretary of State of the State of Delaware to effect the Reverse Stock Split.

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Source: SEC EDGAR

accession 0001213900-22-069851

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