Save Foods completes 1-for-7 reverse stock split to regain Nasdaq compliance

Nexentis Technologies Inc.

Reverse stock split ratio of 1-for-7 effective October 5, 2023; trading on post-split basis begins October 6.
Approved by 55.5% of voting power at annual meeting; board set ratio at 1-for-7.
Pre-split shares: 9,915,637 outstanding; post-split approximately 1,416,520 shares (fractional shares rounded up).
Split intended to regain minimum bid price of $1.00 per share for continued Nasdaq listing by October 23, 2023.
No change to authorized shares, par value, or relative ownership percentages; adjustments to equity awards and convertible securities.

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

Nexentis Technologies Inc.: Amendment to Certificate of Incorporation to effect a 1-for-7 reverse stock split to regain Nasdaq compliance (effective 2023-10-05).

Change: charter amendment
Effective: 2023-10-05

Exact text from the filing

On October 4, 2023, the Company filed the Certificate of Amendment with the Secretary of State of the State of Delaware, to effect the Reverse Stock Split. The Certificate of Amendment became effective on October 5, 2023, at 9 a.m. Eastern Daylight time (the “Effective Time”).

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Nexentis Technologies Inc. filing history →

Source: SEC EDGAR

accession 0001493152-23-035754

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