Cemtrex approves 1-for-35 reverse stock split effective Nov 26 to regain Nasdaq compliance

CEMTREX INC

Reverse split ratio of 1-for-35; effective at 12:01 a.m. ET on November 26, 2024; CUSIP changes to 15130G881.
Reason: To regain compliance with Nasdaq minimum $1 bid price; deficiency notice received June 14, 2024; compliance deadline December 11, 2024.
Adjustable Warrants (19,026,954 shares at $0.7446 pre-split) will have exercise price reset to lowest VWAP 5 days before/after split; underlying shares significantly increased.
Fractional shares: holders with at least one pre-split share get rounded up; others rounded down; no fractional shares issued.
Board determined final ratio within range approved by stockholders on October 17, 2024; ticker symbol CETX unchanged.

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

CEMTREX INC: 1-for-35 reverse stock split approved; Certificate of Amendment filed with Delaware Secretary of State (effective 2024-11-26).

Change: charter amendment
Effective: 2024-11-26

Exact text from the filing

On November 21, 2024, the Company filed a Certificate of Amendment to its Certificate of Incorporation (the “Charter Amendment”) with the Secretary of State of the State of Delaware, pursuant to which, effective at 12:01 a.m. Eastern Time on November 26, 2024, the Reverse Split will be effected.

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Source: SEC EDGAR

accession 0001493152-24-047141

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