MIND Technology effects 1-for-10 reverse stock split to regain Nasdaq compliance

MIND TECHNOLOGY, INC

Reverse stock split at ratio of 1-for-10; effective 5:00 p.m. ET on October 13, 2023.
Outstanding common shares reduced from ~13.79M to ~1.38M; par value unchanged at $0.01.
Common stock begins trading split-adjusted on October 16, 2023 under MIND; new CUSIP 602566309.
Corresponding amendment to Series A Preferred Stock (MINDP) adjusts share cap and exchange cap pro rata.
Split intended to meet Nasdaq minimum bid price requirement for continued listing.

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

MIND TECHNOLOGY, INC: Certificate of Amendment to Charter approved to effect a one-for-ten reverse stock split (effective 2023-10-13).

Change: charter amendment
Effective: 2023-10-13

Exact text from the filing

On October 12, 2023, the Company filed with the Secretary of State of the State of Delaware a Certificate of Amendment to its Charter (the “Charter Amendment”) to effect the Reverse Stock Split.

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MIND TECHNOLOGY, INC filing history →

Source: SEC EDGAR

accession 0001437749-23-028177

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