Treasure Global (TGL) implements 1-for-70 reverse stock split to meet Nasdaq bid price rule

TREASURE GLOBAL INC

Reverse stock split 1-for-70 effective Feb 27, 2024; trading begins split-adjusted same day.
No fractional shares issued; all fractions rounded up to whole share; CUSIP becomes 89458T205.
Intended to bring stock above Nasdaq's $1.00 minimum bid price; no guarantee of compliance.
Stockholders approved reverse split (range 10:1 to 70:1) on Jan 5, 2024; Board set ratio at 70:1.
Proportional adjustments applied to equity awards, warrants, and convertible notes.

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

TREASURE GLOBAL INC: Certificate of Amendment to Certificate of Incorporation effecting a 1-for-70 reverse stock split (effective 2024-02-22).

Change: charter amendment
Effective: 2024-02-22

Exact text from the filing

Treasure Global Inc (the “Company”) filed on February 22, 2024, a Certificate of Amendment to the Certificate of Incorporation, as amended, of the Company with the Secretary of State of the State of Delaware (the “Certificate of Amendment”) that provides for a 1-for-70 reverse stock split (the “Split”) of its shares of common stock, par value $0.00001 per share, that became effective at 12:00 a.m. on February 27, 2024.

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Source: SEC EDGAR

accession 0001213900-24-019121

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