Kidpik effects 1-for-5 reverse stock split to meet Nasdaq $1.00 bid price requirement

KIDPIK CORP.

Board approved 1-for-5 reverse split on Feb 20, 2024; filed Delaware amendment on Mar 4, effective Mar 7, 2024.
Outstanding shares reduced from ~9.5 million to ~1.9 million; no change to par value or trading symbol 'PIK'.
Stockholders rounded up fractional shares to nearest whole share; no cash in lieu of fractions.
Split intended to regain compliance with Nasdaq Listing Rule 5550(a)(2) minimum $1.00 bid price by Mar 16, 2024 deadline.
Equity awards and options proportionally adjusted; exercise prices inversely adjusted.

item 3.03 item 5.03 item 5.07 item 8.01 item 9.01

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

KIDPIK CORP.: Amended Second Amended and Restated Certificate of Incorporation to effect a 1-for-5 reverse stock split (effective 2024-03-07).

Change: charter amendment
Effective: 2024-03-07

Exact text from the filing

On March 4, 2024, we filed a Certificate of Amendment to our Second Amended and Restated Certificate of Incorporation (the “ Certificate of Amendment ”) with the Secretary of State of the State of Delaware to affect the Reverse Stock Split.

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Source: SEC EDGAR

accession 0001493152-24-009138

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