ARMOUR Residential REIT completes 1-for-5 reverse stock split; shares reduced ~245M to ~49M

Armour Residential REIT, Inc.

Outstanding common stock reduced from ≈245,031,959 to ≈49,006,392 shares.
Authorized shares cut from 450M to 90M; par value unchanged at $0.001.
Fractional shares cashed out using average closing price for Sept. 27-29, 2023.
New CUSIP 042315705; stock continues trading under 'ARR' starting Oct. 2, 2023.
ATM, DRIP, and repurchase programs adjusted proportionally for post-split shares.

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

Armour Residential REIT, Inc.: Amended articles of incorporation to effect a 1-for-5 reverse stock split and reduce par value and authorized shares (effective 2023-09-29).

Change: charter amendment
Effective: 2023-09-29

Exact text from the filing

ARMOUR Residential REIT, Inc. (“ARMOUR” or the “Company”) filed two amendments to its Articles of Amendment and Restatement of Articles of Incorporation (the “Amendments”) with the Secretary of State of the State of Maryland, which effected the Company's previously announced one-for-five reverse stock split of its common stock (the “Reverse Stock Split”).

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Armour Residential REIT, Inc. filing history →

Source: SEC EDGAR

accession 0001428205-23-000170

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