Fortress Biotech (FBIO) effects 1-for-15 reverse stock split on Oct 10 to meet Nasdaq $1 bid

Fortress Biotech, Inc.

Reverse split ratio of 1:15; shares reduce from ~134.1M to ~8.9M.
Effective at open on October 10, 2023; new CUSIP 34960Q307.
Stockholders approved split at Oct 9 special meeting: 92.4M for, 3.6M against, 1.0M abstain.
Purpose: comply with Nasdaq minimum $1.00 bid price continued listing requirement.
No fractional shares; cash payment in lieu; ticker FBIO unchanged.

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 0.95

Fortress Biotech, Inc.: The Company filed a Certificate of Amendment to effect a 1-for-15 reverse stock split of common stock, approved by stockholders and board, effective October 10, 2023 (effective 2023-10-10).

Change: charter amendment
Effective: 2023-10-10

Exact text from the filing

On October 9, 2023, Fortress Biotech, Inc. (the “ Company ”) filed a Certificate of Amendment (the “ Amendment ”) to its Amended and Restated Certificate of Incorporation, as amended, with the Secretary of State of Delaware to effect a 1-for-15 reverse stock split (the “ Reverse Stock Split ”) of the Company’s shares of common stock, $0.001 par value (the “ Common Stock ”).

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13 governance changes filed in the last 30 days. Browse all governance changes →

Fortress Biotech, Inc. filing history →

Source: SEC EDGAR

accession 0001558370-23-016326

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