Reviv3 Procare effects 1-for-20 reverse stock split to meet NYSE American listing requirements

Axil Brands, Inc.

Filed Certificate of Amendment on Jan 12, 2024; reverse split effective Jan 16, 2024 at 12:01 a.m. ET.
1-for-20 reverse stock split reduces outstanding shares from ~117M to ~5.85M, fractional shares rounded up.
Action intended to meet NYSE American initial listing requirement of $3.00 minimum bid price.
Common stock trades under RVIV; CUSIP post-split is 76151R206.
CEO states split supports anticipated exchange listing and corporate rebranding to AXIL Brands.

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

Axil Brands, Inc.: Filed a Certificate of Amendment to effect a 1-for-20 reverse stock split of common stock (effective 2024-01-16).

Change: charter amendment
Effective: 2024-01-16

Exact text from the filing

On January 12, 2024, Reviv3 Procare Company (the “Company”) filed a Certificate of Amendment (the “Amendment”) to the Company’s Amended and Restated Certificate of Incorporation, with the Delaware Secretary of State to implement a reverse stock split of the Company’s issued shares of common stock, par value $0.0001 per share at a ratio of one (1) for twenty (20) approved by the Company’s Board of Directors, effective at 12:01 a.m. Eastern Time on January 16, 2024 (the “Reverse Stock Split”).

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Axil Brands, Inc. filing history →

Source: SEC EDGAR

accession 0001520138-24-000017

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