Cyclo Therapeutics increases authorized common shares from 50M to 250M after stockholder approval

Cyclo Therapeutics, Inc.

Stockholders approved increase in authorized common shares from 50M to 250M at special meeting Dec 26, 2023.
Company filed Certificate of Amendment with Nevada Secretary of State on Dec 26, 2023, effective same day.
The share increase could dilute existing shareholders; management's intended use of additional shares is not disclosed.
Other proposals approved at special meeting described in prior 8-K filed Dec 26, 2023.

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

Cyclo Therapeutics, Inc.: The number of authorized shares of common stock was increased from 50,000,000 to 250,000,000 via an amendment to the Articles of Incorporation (effective 2023-12-26).

Change: charter amendment
Effective: 2023-12-26

Exact text from the filing

the Company’s stockholders approved an amendment to Cyclo’s Articles of Incorporation, as amended (the “Share Increase Amendment”) to effect a share increase of the number of authorized shares of the Company’s common stock from 50,000,000 shares to 250,000,000 shares (the “Share Increase”).

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Source: SEC EDGAR

accession 0001437749-23-035495

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