8-K
filed February 9, 2023, 6:59 PM ET
ticker INBS
CIK 0001725430
other material
confidence high
sentiment neutral
materiality 0.70
INBS shareholders approve 1-for-20 reverse stock split; effective Feb 9, 2023
INTELLIGENT BIO SOLUTIONS INC.
- 1-for-20 reverse split reduces outstanding shares from ~18.3M to ~916k; authorized remains 100M.
- Split aims to raise per-share price to meet Nasdaq minimum bid price listing requirement.
- Stock continues trading as 'INBS' with new CUSIP 36151G402; no fractional shares, rounding up applies.
- Stockholders approved 1M share increase in 2019 Long Term Incentive Plan reserve to 1.5M shares.
- All seven director nominees elected at annual meeting; BDO Audit ratified as independent auditor.
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
INTELLIGENT BIO SOLUTIONS INC.: Amended articles to effect a reverse stock split at a ratio set by the board, resulting in a 1-for-20 reverse split effective February 9, 2023 (effective 2023-02-09).
- Change
- charter amendment
- Effective
- 2023-02-09
Exact text from the filing
At the Annual Meeting the stockholders of the Company approved an amendment to the Company’s Amended And Restated Articles Of Incorporation (the “Amendment”) to effect the reverse stock split at a ratio of not less than 1-for-2 and not more than 1-for-35 at any time within 12 months following the date of stockholder approval, with the exact ratio to be set within this range by the Company’s Board of Directors (the “Board”) at its sole discretion without further approval or authorization of our stockholders.
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
INTELLIGENT BIO SOLUTIONS INC. shareholders approved Election of seven directors.
- Proposal
- director election
- Outcome
- passed
Exact text from the filing
Proposal 1. The election of seven directors, each to serve until the next annual meeting of shareholders, or until each successor is duly elected and qualified.
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
INTELLIGENT BIO SOLUTIONS INC. shareholders approved Approval of amendment to Certificate of Incorporation to effect reverse stock split at ratio not less than 1-for-2 and not greater than 1-for-35.
- Proposal
- reverse split
- Outcome
- passed
Exact text from the filing
Proposal 3. The approval of an amendment to the Company’s Amended and Restated Certificate of Incorporation to effect a reverse stock split at a ratio not less than 1-for-2 and not greater than 1-for-35, with the exact ratio to be set within that range at the discretion of our Board of Directors without further approval or authorization of our stockholders.
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
INTELLIGENT BIO SOLUTIONS INC. shareholders approved Authorization of adjournment of Annual Meeting if necessary to solicit additional proxies if not sufficient votes in favor of Proposal 4.
- Outcome
- passed
Exact text from the filing
Proposal 6. The authorization of the adjournment of the Annual Meeting, if necessary, to solicit additional proxies if there are not sufficient votes in favor of Proposal 4.
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
INTELLIGENT BIO SOLUTIONS INC. shareholders approved Authorization of adjournment of Annual Meeting if necessary to solicit additional proxies if not sufficient votes in favor of Proposal 3.
- Outcome
- passed
Exact text from the filing
Proposal 5. The authorization of the adjournment of the Annual Meeting, if necessary, to solicit additional proxies if there are not sufficient votes in favor of Proposal 3.
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
INTELLIGENT BIO SOLUTIONS INC. shareholders approved Approval of increase in shares authorized for issuance under 2019 Long Term Incentive Plan by 1,000,000 shares.
- Proposal
- equity plan
- Outcome
- passed
Exact text from the filing
Proposal 4. The approval of an increase in the number of shares of common stock authorized for issuance under the Company’s 2019 Long Term Incentive Plan by 1,000,000 shares.
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
INTELLIGENT BIO SOLUTIONS INC. shareholders approved Ratification of appointment of BDO Audit Pty Ltd as independent registered public accounting firm for year ending June 30, 2023 at the 2023-06-30 meeting.
- Proposal
- auditor ratification
- Outcome
- passed
- Meeting
- 2023-06-30
Exact text from the filing
Proposal 2. The ratification of the appointment of BDO Audit Pty Ltd as the Company’s independent registered public accounting firm for the year ending June 30, 2023.
View on SEC.gov
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