Arch Therapeutics increases authorized common stock from 12M to 350M, creates 5M blank check preferred

Arch Therapeutics, Inc.

Authorized common shares increased from 12,000,000 to 350,000,000, par value $0.001.
Authorized 5,000,000 shares of blank check preferred stock, par value $0.001.
Amendment approved by board on July 18, 2023 and stockholders on August 22, 2023; effective September 21, 2023.
No immediate purpose for the additional shares was disclosed in the filing.

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

Arch Therapeutics, Inc.: Increased authorized common shares from 12,000,000 to 350,000,000 and authorized 5,000,000 blank-check preferred shares (effective 2023-09-21).

Change: charter amendment
Effective: 2023-09-21

Exact text from the filing

On September 21, 2023, the Company amended its Articles of Incorporation by filing a Certificate of Amendment (the “Certificate of Amendment”) with the Secretary of State of Nevada to increase the total number of authorized shares of common stock, par value $0.001 per share, from 12,000,000 to 350,000,000, and to authorize 5,000,000 shares of “blank check” preferred stock, par value $0.001 per share.

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Source: SEC EDGAR

accession 0001437749-23-026947

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