Eastside Distilling files 1-for-20 reverse stock split to meet Nasdaq minimum bid price

Beeline Holdings, Inc.

Reverse split at 1-for-20 ratio effective after market close on May 12, 2023.
Authorized shares reduced from 35,000,000 to 1,750,000; no fractional shares, rounded up.
Common stock to trade on split-adjusted basis under symbol EAST on May 15, 2023 with new CUSIP.
Action taken to comply with Nasdaq continued listing standards for minimum share price.
Company also announces Q1 2023 earnings release date of May 12 and conference call on May 15.

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

Beeline Holdings, Inc.: Certificate of Change filed to effect a 1-for-20 reverse stock split and reduce authorized shares from 35,000,000 to 1,750,000, effective May 12, 2023 (effective 2023-05-12).

Change: charter amendment
Effective: 2023-05-12

Exact text from the filing

on May 3, the Registrant filed with the Nevada Secretary of State a Certificate of Change Pursuant to NRS 78.209. The Certificate of Change provides that at 6:00 P.M. on May 12, 2023 a one-for-twenty reverse split of the outstanding common stock as well as a 95% reduction in the number of authorized shares of common stock will be effective.

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Beeline Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-23-015956

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