Skye Bioscience announces 1-for-250 reverse stock split effective Sept 8, 2023

Skye Bioscience, Inc.

Reverse split at 1:250 reduces outstanding shares from ~3.078B to ~12.3M.
Authorized shares reduced from 5B to 20M; ticker SKYE gets 'D' for 20 trading days.
No stockholder vote required; fractional shares rounded up to whole shares.
Effective Sept 8, 2023; new CUSIP 83086J200 for common stock.
Each holder's percentage ownership unchanged except for rounding adjustments.

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

Skye Bioscience, Inc.: Reverse stock split at a ratio of one-for-250 and reduction of authorized shares from 5,000,000,000 to 20,000,000, effective via Certificate of Change and Certificate of Correction (effective 2023-09-08).

Change: bylaw amendment
Effective: 2023-09-08

Exact text from the filing

On September 6, 2023, Skye Bioscience, Inc. (the “Company”) filed a Certificate of Change and Certificate of Correction with the Secretary of State of the State of Nevada, which will effect a reverse stock split (the “Reverse Split”), at a ratio of one-for-250, of the Company’s issued and outstanding shares of common stock, par value $0.001 per share (the “Common Stock”).

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Skye Bioscience, Inc. filing history →

Source: SEC EDGAR

accession 0001516551-23-000073

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