Agrify announces 1-for-20 reverse stock split effective July 5, 2023 to regain Nasdaq compliance

RYTHM, Inc.

Reverse stock split approved by board; effective 12:01 a.m. ET on July 5, 2023.
Outstanding shares reduced from ~32.5M to ~1.62M; authorized shares cut from 200M to 10M.
Fractional shares rounded up to nearest whole share; no cash issued for fractions.
Split aims to meet Nasdaq's $1.00 minimum bid price requirement; compliance deadline July 18, 2023.
Stock symbol remains AGFY; new CUSIP 00853E305; Broadridge acts as exchange agent.

item 3.03 item 5.03 item 8.01 item 9.01

Key facts

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Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

RYTHM, Inc.: Effected a 1-for-20 reverse stock split of common stock via Certificate of Change (effective 2023-07-05).

Change: charter amendment
Effective: 2023-07-05

Exact text from the filing

On June 30, 2023, Agrify Corporation (the “Company”) filed with the Secretary of State of the State of Nevada a Certificate of Change (the “Certificate of Change”) to effect a 1-for-20 reverse stock split of the Company’s common stock, par value $0.001 per share (the “Common Stock”), in which each twenty (20) shares of Common Stock issued and outstanding will be combined and converted into one share of Common Stock (the “Reverse Stock Split”). The Reverse Stock Split will be effective as of 12:01 a.m. Eastern Time on July 5, 2023 (the “Effective Date”).

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RYTHM, Inc. filing history →

Source: SEC EDGAR

accession 0001213900-23-053790

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