Cuentas effects 1:13 reverse stock split, reducing outstanding shares to ~2.09M

Cuentas Inc.

Reverse stock split at 1:13 ratio effective March 24, 2023; par value unchanged at $0.001.
Outstanding shares reduced from 27,116,270 to 2,085,961; fractional shares rounded up.
Proportional adjustments to warrants and equity awards; authorized shares unchanged.
Board approved on March 17, 2023; stockholder approval not required.
Common stock began trading on split-adjusted basis March 24, 2023.

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

Cuentas Inc.: Effected a one-for-thirteen reverse stock split by filing a Certificate of Amendment to the Amended and Restated Articles of Incorporation (effective 2023-03-24).

Change: charter amendment
Effective: 2023-03-24

Exact text from the filing

On March 24, 2023, Cuentas, Inc. (the “Company”) effected a one-for-thirteen (1:13) reverse stock split (the “Reverse Stock Split”) of the shares of the Company’s common stock, par value $0.001 per share (the “Common Stock”). To effect the Reverse Stock Split, the Company filed with the Florida Secretary of State a Certificate of Amendment to its Amended and Restated Articles of Incorporation (the “Certificate of Amendment”) which became effective as of 12:01 a.m. Eastern Standard Time on Friday, March 24, 2023.

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Cuentas Inc. filing history →

Source: SEC EDGAR

accession 0001213900-23-024612

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