Future FinTech Group approves 1-for-5 reverse stock split effective Feb 1, 2023

Future FinTech Group Inc.

1-for-5 reverse split, reducing authorized common shares from 300M to 60M, par value remains $0.001.
Effective 1:00 am ET on February 1, 2023; no fractional shares issued (rounded up).
Board approved without shareholder vote under Florida Business Corporation Act Section 607.10025.
Common stock continues trading on Nasdaq under symbol FTFT; new CUSIP is 36117V204.
Preferred share authorization unchanged at 10M shares.

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

Future FinTech Group Inc.: 1-for-5 reverse stock split of common stock, reducing authorized shares from 300M to 60M (effective 2023-02-01).

Change: charter amendment
Effective: 2023-02-01

Exact text from the filing

On January 26, 2023, Future FinTech Group Inc. (the "Company") filed with the Florida Secretary of State's office Articles of Amendment (the “Amendment”) to amend its Second Amended and Restated Articles of Incorporation, as amended (“Articles of Incorporation”). As a result of the Amendment, the Company has authorized and approved a 1-for-5 reverse stock split of the Company’s authorized shares of common stock from 300,000,000 shares to 60,000,000 shares, accompanied by a corresponding decrease in the Company’s issued and outstanding shares of common stock (the "Reverse Stock Split").

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Future FinTech Group Inc. filing history →

Source: SEC EDGAR

accession 0001213900-23-006239

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