secwatch.observer — SEC 8-K summary
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Issuer:     Fortress Biotech, Inc. (FBIO)
CIK:        0001429260
Form:       8-K
Filed at:   2023-10-10T23:59:59+00:00
Accession:  0001558370-23-016326
Event type: other_material
Sentiment:  negative
Materiality: 0.60
Item codes: 3.03, 5.03, 5.07, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1429260/000155837023016326/0001558370-23-016326-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1429260/000155837023016326/fbio-20231009x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-23-016326

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