MedAvail announces 1-for-50 reverse stock split to regain Nasdaq $1 bid compliance

MedAvail Holdings, Inc.

Reverse stock split at 1-for-50 ratio effective 5:00 p.m. ET July 31, 2023; trading begins post-split Aug 1, 2023 under ticker MDVL.
Outstanding shares reduced from ~81 million to ~1.6 million (subject to fractional share adjustments).
Split approved by stockholders at June 14, 2023 Annual Meeting; Board set final ratio of 50:1 to regain Nasdaq $1.00 minimum bid compliance.
No fractional shares issued; holders entitled to pro rata net proceeds from aggregation and sale of fractions by exchange agent Equiniti Trust.
Authorized shares unchanged at 300M; par value remains $0.001; proportionate adjustments to options, warrants, and RSUs.

Key facts

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

MedAvail Holdings, Inc.: Amended restated certificate of incorporation to effect a 1-for-50 reverse stock split of common stock (effective 2023-07-31).

Change: charter amendment
Effective: 2023-07-31

Exact text from the filing

On July 31, 2023, MedAvail Holdings, Inc. filed a Certificate of Amendment of our Amended and Restated Certificate of Incorporation with the Secretary of State of the State of Delaware to effect a reverse stock split of our common stock, par value $0.001 per share, at a ratio of 1-for-50. The reverse stock split became effective at 5:00 p.m. Eastern time, on July 31, 2023.

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Source: SEC EDGAR

accession 0001402479-23-000079

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