Hempacco announces 1-for-10 reverse stock split to meet Nasdaq $1.00 bid price requirement

Hempacco Co., Inc.

Reverse split approved by board on Feb 20, 2024; filed with Nevada on March 4, 2024.
Effective at market open on March 13, 2024; pre-split shares ~31.4M, post-split ~3.14M.
Authorized common shares reduced from 200M to 20M; no change to authorized preferred (50M shares).
No fractional shares; rounded up to whole share. New CUSIP: 42371L205.
Purpose: to reduce risk of delisting from Nasdaq due to bid price below $1.00.

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

Hempacco Co., Inc.: 1-for-10 reverse stock split effected by filing Certificate of Change with Nevada Secretary of State; authorized shares reduced from 200M to 20M (effective 2024-03-13).

Change: charter amendment
Effective: 2024-03-13

Exact text from the filing

Hempacco Co., Inc. (the “ Company ”), filed a Certificate of Change with the State of Nevada to effect a 1-for-10 reverse stock split

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Source: SEC EDGAR

accession 0001477932-24-001105

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