ABVC BioPharma executes 1-for-10 reverse stock split effective July 25, 2023 to regain Nasdaq compliance

ABVC BIOPHARMA, INC.

1-for-10 reverse stock split effective 12:01 a.m. EST July 25, 2023; new CUSIP 00091F 304.
Pre-split outstanding shares 33,080,740; post-split approx 3,308,074 (no fractional shares, rounded up).
Shareholder approval obtained at special meeting on July 7, 2023.
Ticker symbol remains ABVC; split aims to increase per-share price to meet Nasdaq continued listing standards.
Board expects reverse split to help exit penny-stock status and attract broader investor base.

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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

ABVC BIOPHARMA, INC.: Filed a Certificate of Amendment to Articles of Incorporation to effect a 1-for-10 reverse stock split (effective 2023-07-25).

Change: charter amendment
Effective: 2023-07-25

Exact text from the filing

ABVC BioPharma, Inc. (the “Company”) filed a Certificate of Amendment to its Articles of Incorporation (the “Certificate”) to be effective as of 12:01 a.m. EST on July 25, 2023 authorizing a 1-for-10 reverse stock split of the issued and outstanding shares of its common stock

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ABVC BIOPHARMA, INC. filing history →

Source: SEC EDGAR

accession 0001213900-23-059044

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