SUIC Worldwide 1-for-10 reverse stock split effective July 25, 2023

SUIC Worldwide Holdings Ltd.

Reverse split at 1-for-10 ratio approved by board on July 3, 2023, filed with Nevada Secretary of State.
FINRA declared effective July 24, 2023; market effective date July 25, 2023.
Ticker symbol will include 'D' for 20 business days then revert to SUIC.
Purpose stated: increase per share price to attract investors who avoid low-priced stocks.

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

SUIC Worldwide Holdings Ltd.: Authorized a 1-for-10 reverse stock split via amendment to the articles of incorporation (effective 2023-07-25).

Change: charter amendment
Effective: 2023-07-25

Exact text from the filing

On July 3, 2023, the Board of Directors authorized the submission of a Certificate of Change/Amendment to the Nevada Secretary of State in which the Company sought to affect a reverse split of its common stock at the rate of 1 for 10 for the purpose of increasing the per share price for the Company’s stock in an effort to attract future investors who might otherwise shy away from a good company because of its low stock price.

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SUIC Worldwide Holdings Ltd. filing history →

Source: SEC EDGAR

accession 0001554795-23-000224

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