Shineco announces 1-for-10 reverse stock split to regain Nasdaq compliance

SHINECO, INC.

Effective Feb 16, 2024; every 10 shares convert to 1 share; par value $0.001 unchanged.
Authorized common stock increased from 100M to 150M shares; post-split shares ~6.4M.
New CUSIP 824567408; ticker SISI unchanged; fractional shares rounded up.
Reverse split aims to meet Nasdaq minimum $1 bid price requirement for continued listing.

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

SHINECO, INC.: Amended Certificate of Incorporation to effect a 1-for-10 reverse stock split and increase authorized common stock from 100,000,000 to 150,000,000 shares (effective 2024-02-16).

Change: charter amendment
Effective: 2024-02-16

Exact text from the filing

On February 12, 2024, Shineco, Inc. (the “Company”) filed a Certificate of Amendment to its Certificate of Incorporation to effect a one-for-ten (1-for-10) reverse split (the “Reverse Split”), and to increase the number of shares of its authorized common stock from 100,000,000 shares to 150,000,000 (the “Common Stock Increase”). The Reverse Split became effective on February 16, 2024.

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Source: SEC EDGAR

accession 0001493152-24-007010

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