Metro One Telecom effectuates 1-for-75 reverse stock split, authorized shares reduced to 35M

METRO ONE TELECOMMUNICATIONS INC

Reverse split effective Sept 27, 2023; outstanding shares cut from ~273.7M to ~3.6M.
Authorized common shares reduced from 600M to 35M via charter amendment.
No fractional shares issued; holders with <100 post-split shares rounded up to 100.
Stock trades on OTC under symbol WOWID for 20 business days then reverts to WOWI.
Board approved split ratio on Aug 4, 2023; stockholder approval obtained Feb 28, 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

METRO ONE TELECOMMUNICATIONS INC: Certification of Incorporation amended to effect a 1-for-75 reverse stock split and reduce authorized shares from 600 million to 35 million, effective September 27, 2023 (effective 2023-09-27).

Change: charter amendment
Effective: 2023-09-27

Exact text from the filing

On August 4, 2023, pursuant to the approval provided by the requisite stockholders of Metro One Telecommunications, Inc. (the “ Company ”) on February 28, 2023, the Company’s Board of Directors approved an amendment to the Company’s Certificate of Incorporation (the “ Amendment ”) to effectuate a reverse stock split of the Company’s common stock, par value $0.0001 per share (the “ Common Stock ”), affecting both the authorized and issued and outstanding number of such shares by a ratio of 1-for-75 (the “ Reverse Stock Split ”).

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Source: SEC EDGAR

accession 0001477932-23-007177

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