8-K
filed November 24, 2023, 6:59 PM ET
ticker VSTD
CIK 0001898604
other material
confidence high
sentiment neutral
materiality 0.60
Yoshiharu Global announces 1-for-10 reverse stock split to regain Nasdaq compliance
Vestand Inc.
- Reverse stock split effective 11:59 p.m. ET Nov 27, 2023; shares trade split-adjusted from Nov 28.
- Class A shares reduce from 11,940,000 to 1,194,000; Class B from 1,000,000 to 100,000 shares.
- Reverse split aims to meet Nasdaq $1.00 minimum bid price requirement and maintain listing.
- Stockholders approved split at Nov 20 annual meeting; Board set ratio at 1-for-10.
- No fractional shares issued; fractional interests rounded up to whole share.
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
Vestand Inc.: Filed Certificate of Amendment to effect a 1-for-10 reverse stock split of Class A and Class B common stock, effective November 27, 2023 (effective 2023-11-27).
- Change
- charter amendment
- Effective
- 2023-11-27
Exact text from the filing
On November 22, 2023, Yoshiharu Global Co. (the “Company”) filed a Certificate of Amendment (the “Certificate of Amendment”) to the Company’s Amended and Restated Certificate of Incorporation to effect a reverse stock split of its issued Class A common stock, par value $0.0001 per share (“Class A Common Stock”) and Class B common stock, par value $0.0001 per share (“Class B Common Stock” and, together with Class A common Stock, “Common Stock”), in the ratio of 1-for-10 (the “Reverse Stock Split”) to be effective at 11:59 p.m. eastern on November 27, 2023.
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
Vestand Inc. shareholders approved Election of Directors at the 2023-11-20 meeting.
- Proposal
- director election
- Outcome
- passed
- Meeting
- 2023-11-20
Exact text from the filing
The Company’s stockholders elected James Chae, Jay Kim, Harinne Kim and Yusil Yeo to the Company’s Board of Directors, to hold office until the 2024 annual meeting of stockholders or until his or her successor shall have been duly elected or appointed and qualify, based upon the following votes: Nominee Votes WITHHELD James Chae 17,574,189 86,601 Jay Kim 17,573,568 87,222 Harinne Kim 17,599,684 61,106 Yusil Yeo 17,569,360 91,430
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
Vestand Inc. shareholders approved Ratification of the appointment of BF Borgers CPA PC as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2024 at the 2023-11-20 meeting.
- Proposal
- auditor ratification
- Outcome
- passed
- Meeting
- 2023-11-20
Exact text from the filing
The Company’s stockholders ratified the appointment of BF Borgers CPA PC as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2024, based upon the following votes: Votes AGAINST Votes ABSTAINED BROKER NON-VOTES 17,617,734 7,164 35,892 —
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
Vestand Inc. shareholders approved Approval of a reverse stock split of the Class A Common Stock and Class B Common Stock at a ratio of not more than 1-for-40, such ratio to be determined by the Board of Directors on or prior to December 31, 2023 at the 2023-11-20 meeting.
- Proposal
- reverse split
- Outcome
- passed
- Meeting
- 2023-11-20
Exact text from the filing
The Company’s stockholders approved a reverse stock split of the Class A Common Stock and Class B Common Stock at a ratio of not more than 1-for-40, such ratio to be determined by the Board of Directors on or prior to December 31, 2023, in its sole discretion: Votes AGAINST Votes ABSTAINED BROKER NON-VOTES 17,484,450 176,228 112 —
View on SEC.gov
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