secwatch.observer — SEC 8-K summary
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Issuer:     INTELLIGENT BIO SOLUTIONS INC. (INBS)
CIK:        0001725430
Form:       8-K
Filed at:   2024-01-26T23:59:59+00:00
Accession:  0001493152-24-003973
Event type: other_material
Sentiment:  neutral
Materiality: 0.70
Item codes: 5.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1725430/000149315224003973/0001493152-24-003973-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1725430/000149315224003973/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-003973

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer