Adamis Pharmaceuticals effects 1-for-70 reverse stock split to regain Nasdaq compliance

DMK PHARMACEUTICALS Corp

Reverse split effective 12:01 a.m. ET on May 22, 2023; shares begin trading split-adjusted same day.
Ratio of 1-for-70 approved by board after shareholders authorized range of 1-for-2 to 1-for-100.
Purpose: increase stock price to meet Nasdaq minimum $1.00 bid for 10 consecutive days by June 26, 2023.
Split also a closing condition of the previously announced merger with DMK Pharmaceuticals.
No change to authorized shares (200M common); CUSIP changes to 00547W 307; symbol remains ADMP.

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

DMK PHARMACEUTICALS Corp: The company filed a Certificate of Amendment to its Restated Certificate of Incorporation to effect a 1-for-70 reverse stock split of its common stock, effective 12:01 a.m. Eastern time (effective 2023-05-22).

Change: charter amendment
Effective: 2023-05-22

Exact text from the filing

Adamis Pharmaceuticals Corporation (the “Company”) filed a Certificate of Amendment (the “Certificate of Amendment”) to the Company’s Restated Certificate of Incorporation (the “Restated Certificate”) with the Secretary of State of Delaware, effective 12:01 a.m. Eastern time, to effect a 1-for-70 reverse stock split of the outstanding shares of the Company’s common stock, par value $0.0001 per share (the “Common Stock”) (the “Reverse Stock Split”).

View on SEC.gov

Browse all governance changes →

Source: SEC EDGAR

accession 0001387131-23-006742

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.