Society Pass Inc. effects 1-for-15 reverse stock split effective May 1, 2024 to regain Nasdaq compliance

SOCIETY PASS INCORPORATED.

Reverse stock split at 1-for-15 ratio effective at market open on May 1, 2024 on Nasdaq Capital Market.
Authorized shares reduced from 95,000,000 to 6,333,333; no fractional shares issued, rounding up to whole share.
Trading symbol remains 'SOPA'; new CUSIP number is 83370P201.
Split aims to meet Nasdaq minimum bid price Rule 5550(a)(2) and maintain listing.
Board approved split; certificate of change filed with Nevada Secretary of State.

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 0.95

SOCIETY PASS INCORPORATED.: Filed a Certificate of Amendment to effect a 1-for-15 reverse stock split, reduce authorized shares from 95,000,000 to 6,333,333, and assign a new CUSIP number, effective at market open on May 1, 2024 (effective 2024-05-01).

Change: charter amendment
Effective: 2024-05-01

Exact text from the filing

Society Pass Incorporated. (the “Company”) filed a Certificate of Change of the Company with the Secretary of State of the State of Nevada (the “Certificate of Amendment”) to effect a 1-for-15 reverse stock split (the “reverse stock split”) of the shares of the Company’s common stock, par value $0.0001 per share (the “Common Stock”), which will become effective when the market opens on May 1, 2024, with the Common Stock trading on a reverse stock split-adjusted basis on the Nasdaq Capital Market.

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Source: SEC EDGAR

accession 0001213900-24-038147

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