Troika Media Group implements 1-for-25 reverse stock split to regain Nasdaq compliance

Troika Media Group, Inc.

Reverse split effective June 1, 2023; every 25 pre-split shares become 1 share.
Authorized common shares reduced from 800M to 32M; outstanding from ~413M to ~16.5M.
CUSIP changes to 89689F404; fractional shares rounded up to whole shares, no cash paid.
Company received delisting notice on May 16 for bid price <$1; appeal hearing pending with Nasdaq.
CEO cites record revenues and profitability since March 2022, aiming to attract institutional investors.

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

Troika Media Group, Inc.: Approved a 1-for-25 reverse stock split, decreasing authorized common stock from 800,000,000 to 32,000,000 shares and reducing outstanding shares proportionally, effective June 1, 2023 (effective 2023-06-01).

Change: charter amendment
Effective: 2023-06-01

Exact text from the filing

The Board of Directors of Troika Media Group, Inc., a Nevada corporation (the “ Company ”), has approved a reverse stock split of the Company’s issued and outstanding shares of common stock, par value $0.001 per share (the “ Common Stock ”), at a ratio of 1-for-25 (the “ Reverse Stock Split ”). The Company anticipates that the Reverse Stock Split will be effective at 12:01 a.m., Eastern Time, on June 1, 2023 (the “ Effective Date ”).

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Source: SEC EDGAR

accession 0001628280-23-020303

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