Digital Ally completes 1-for-20 reverse split; Nasdaq panel grants continued listing with conditions

KUSTOM ENTERTAINMENT, INC.

Reverse stock split 1-for-20 effective May 6; trading on Nasdaq begins May 7 split-adjusted.
Stockholders approved reverse split; proposal to increase authorized shares to 5.01B failed.
Nasdaq Hearings Panel granted continued listing subject to $2.5M equity by May 20 and $1.00 bid by June 6.
Company warns no assurance it can meet Nasdaq conditions; compliance required through Sep 2, 2025.
Special meeting also approved issuance of Series A and B warrants from Feb 2025 offering.

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

KUSTOM ENTERTAINMENT, INC.: Certificate of amendment effecting a one-for-twenty reverse stock split of common stock, effective as of 5:30 p.m. ET on May 6, 2025 (effective 2025-05-06).

Change: charter amendment
Effective: 2025-05-06

Exact text from the filing

On May 6, 2025, Digital Ally, Inc. (the “Company”), acting pursuant to authority received at an annual meeting of its stockholders on December 17, 2024, filed with the Secretary of State of the State of Nevada a certificate of amendment (the “Charter Amendment”) to its articles of incorporation, as amended (the “Articles of Incorporation”), which effected a one-for-twenty reverse stock split (the “Reverse Stock Split”) of all of the Company’s outstanding shares of common stock, par value $0.001 per share (the “Common Stock”).

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13 governance changes filed in the last 30 days. Browse all governance changes →

KUSTOM ENTERTAINMENT, INC. filing history →

Source: SEC EDGAR

accession 0001641172-25-008972

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