Innovative Payment Solutions finalizes 1-for-30 reverse stock split effective August 30, 2023

Innovative Payment Solutions, Inc.

Board approved 1-for-30 reverse split ratio on August 11, 2023; filed Certificate of Correction with Nevada on August 24.
Reverse split effective for Nevada law as of August 24; public market effective date August 30, 2023.
Shareholders had approved reverse split in November 2022; initial ratio was 1-for-20 but later amended to 1-for-30.
Company deferred effectiveness in June 2023 before finalizing the 1-for-30 ratio.

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

Innovative Payment Solutions, Inc.: Reverse stock split at ratio of 1-for-30, effective August 24, 2023 for Nevada law purposes and August 30, 2023 for public market purposes, via a second Certificate of Correction to the Articles of Incorporation (effective 2023-08-24).

Change: charter amendment
Effective: 2023-08-24

Exact text from the filing

On August 11, 2023, the Board approved a second Certificate of Correction amending the Reverse Split ratio to 1-for-30, and the Company subsequently filed such second Certificate of Correction, which serves as the Certificate of Amendment (the “ Certificate of Correction ”), with the Secretary of State of Nevada on August 24, 2023 (the effective date of the Reverse Split for Nevada law purposes). The Reverse Stock Split effective for public market purposes as of August 30, 2023.

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Innovative Payment Solutions, Inc. filing history →

Source: SEC EDGAR

accession 0001213900-23-072170

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