Agrify announces 1-for-15 reverse stock split to meet Nasdaq $1 minimum bid price

RYTHM, Inc.

1-for-15 reverse stock split effective 12:01 a.m. ET on October 8, 2024; approved by shareholders on Sept 3, 2024.
Split aims to regain compliance with Nasdaq $1 minimum bid price after notice on Mar 5, 2024; compliance deadline Mar 3, 2025.
No fractional shares issued; cash in lieu based on closing price at effective time. CUSIP changes to 00853E404; symbol stays AGFY.
Authorized shares and par value per share unchanged; proportional adjustments to convertible securities and equity awards.

Key facts

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

RYTHM, Inc.: Filed Articles of Amendment to effect a 1-for-15 reverse stock split of common stock (effective 2024-10-08).

Change: charter amendment
Effective: 2024-10-08

Exact text from the filing

On October 3, 2024, Agrify Corporation (the “Company”) filed Articles of Amendment (the “Charter Amendment”) to its Articles of Incorporation with the Secretary of State of the State of Nevada to effect a 1-for-15 reverse stock split of the Company’s common stock, par value $0.001 per share (the “Common Stock”), in which each fifteen (15) shares of Common Stock issued and outstanding will be combined and converted into one share of Common Stock (the “Reverse Stock Split”).

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RYTHM, Inc. filing history →

Source: SEC EDGAR

accession 0001213900-24-085199

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