ToughBuilt announces 1-for-65 reverse stock split effective Jan 1, 2024

Toughbuilt Industries, Inc

Reverse split ratio of 1-for-65; reduces outstanding shares from 36,915,222 to ~567,927.
Effective 4:30 p.m. NY time Jan 1, 2024; trading begins on split-adjusted basis Jan 2.
Shareholders approved split range (1:20 to 1:100) at Dec 11, 2023 annual meeting; board set 1:65.
Fractional shares rounded up to nearest whole share; no change to 200M authorized shares.
CUSIP changes to 89157G 868; trading symbol remains TBLT on Nasdaq.

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

Toughbuilt Industries, Inc: On December 21, 2023, the Company filed a Certificate of Amendment to effect a 1-for-65 reverse stock split, approved by stockholders and the Board, effective January 1, 2024 (effective 2024-01-01).

Change: charter amendment
Effective: 2024-01-01

Exact text from the filing

On December 21, 2023, ToughBuilt Industries, Inc., a Nevada corporation (the “ Company ”) filed a Certificate of Amendment to the Company’s Amended and Restated Articles of Incorporation, as amended (the “ Certificate of Amendmen t”), with the Secretary of State of Nevada to effect a 1-for-65 reverse stock split of the shares of the Company’s common stock, par value $0.0001 per share (the “ Common Stock ”), issued and outstanding, effective as of 4:30 p.m. (New York time) on January 1, 2024

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Source: SEC EDGAR

accession 0001575872-23-001942

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