Digital Media Solutions implements 15-to-1 reverse stock split to meet NYSE $1 minimum

Digital Media Solutions, Inc.

Reverse stock split effective Aug 28, 2023; every 15 shares combined into 1 share.
Class A shares reduced from ~41M to ~2.7M; Class B from ~25.1M to ~1.7M.
No fractional shares issued; shareholders receive whole share for fractional interests.
Split intended to regain compliance with NYSE $1.00 minimum closing price by Sept 29, 2023.
Trading symbol DMS unchanged; new CUSIP 25401G403.

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

Digital Media Solutions, Inc.: Filed an amendment to the certificate of incorporation to effect a 1-for-15 reverse stock split of Class A and Class B common stock (effective 2023-08-28).

Change: charter amendment
Effective: 2023-08-28

Exact text from the filing

On August 28, 2023, Digital Media Solutions, Inc. filed an amendment to its certificate of incorporation in the State of Delaware (the "Amendment"), which provides that, after the market close on August 28, 2023 (the "Reverse Split Effective Time"), every fifteen shares of our issued and outstanding Class A Common Stock and Class B Common Stock will automatically be combined into one issued and outstanding share of Class A Common Stock and Class B Common Stock, respectively, without any change in the par value per share (the “Reverse Stock Split”).

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Source: SEC EDGAR

accession 0001628280-23-030956

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