SG DevCo effects 1-for-20 reverse stock split on Oct 8 to meet Nasdaq bid price rule

RenX Enterprises Corp.

Reverse stock split at 1-for-20 ratio effective 12:01 a.m. ET on October 8, 2024.
Outstanding shares reduce from ~19M to ~0.95M; no change to authorized shares (50M).
Fractional shares paid in cash based on 10-day average closing price before effective time.
Reverse split intended to meet Nasdaq minimum $1.00 bid price requirement for continued listing.
Trading symbol remains 'SGD'; new CUSIP 78637J204.

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

RenX Enterprises Corp.: Certificate of Amendment to Amended and Restated Certificate of Incorporation to effect a 1-for-20 reverse stock split (effective 2024-10-08).

Change: charter amendment
Effective: 2024-10-08

Exact text from the filing

the Company filed a Certificate of Amendment (the “Amendment”) to the Amended and Restated Certificate of Incorporation with the Secretary of State of the State of Delaware to effect the reverse stock split, with an effective time (the “Effective Time”) of 12:01 a.m. Eastern Time on October 8, 2024 (the “Reverse Stock Split”).

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RenX Enterprises Corp. filing history →

Source: SEC EDGAR

accession 0001213900-24-086268

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