Intelligent Bio Solutions announces 1-for-12 reverse stock split to meet Nasdaq minimum bid price

INTELLIGENT BIO SOLUTIONS INC.

Reverse stock split effective 5:00 p.m. ET on Jan 26, 2024; adjusted trading begins Jan 29, 2024.
Shares outstanding reduced from ~17.93M to ~1.49M; authorized shares unchanged at 100M.
Purpose: increase per-share price to comply with Nasdaq's $1.00 minimum bid requirement.
No fractional shares issued; rounding up to nearest whole share; par value $0.01 unchanged.
Proportional adjustments to stock options, RSUs, warrants; Series E warrants have one-time exercise price reset.

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.: Amendment to Amended and Restated Certificate of Incorporation to effect a 1-for-12 reverse stock split (effective 2024-01-26).

Change: charter amendment
Effective: 2024-01-26

Exact text from the filing

On January 26, 2024, the Amendment was filed with the Secretary of State of the State of Delaware and the Reverse Stock Split became effective in accordance with the terms of the Amendment at 5:00 p.m. Eastern Time on January 26, 2024 (the “Effective Time”).

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INTELLIGENT BIO SOLUTIONS INC. filing history →

Source: SEC EDGAR

accession 0001493152-24-003973

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