secwatch.observer — SEC 8-K summary
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Issuer:     Skillz Inc. (SKLZ)
CIK:        0001801661
Form:       8-K
Filed at:   2023-06-23T23:59:59+00:00
Accession:  0001628280-23-023342
Event type: other_material
Sentiment:  negative
Materiality: 0.75
Item codes: 5.03, 5.07, 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Skillz announces 1-for-20 reverse stock split effective June 23 to regain NYSE compliance
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- Reverse stock split at 1-for-20 ratio effective June 23, 2023; trading on split-adjusted basis from June 26.
- Split intended to bring Skillz back into compliance with NYSE continued listing standards.
- Class A shares outstanding reduced from ~354.7M to ~17.7M; Class B from ~68.6M to ~3.4M.
- Fractional shares will be paid in cash; no change to stockholder percentage interests.
- Stockholders approved reverse split authority at June 20 annual meeting; Board set final ratio at 1-for-20.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1801661/000162828023023342/0001628280-23-023342-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1801661/000162828023023342/sklz-20230620.htm
  HTML page:      https://secwatch.observer/filing/0001628280-23-023342

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