Dynatronics effects 1-for-5 reverse stock split to meet Nasdaq minimum bid

DYNATRONICS CORP

Reverse split effective 5:00 p.m. ET on Feb 1, 2023; shares begin split-adjusted trading Feb 2.
Outstanding shares reduced from ~19.6M to ~3.9M; no fractional shares issued.
Conversion shares for Series A preferred drop from 1,992,000 to 398,400; Series B from 1,359,000 to 271,800.
Company warns it may not sustain compliance with Nasdaq minimum bid price or other listing requirements.
No change to authorized common (100M) or preferred (50M) shares or par value.

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

DYNATRONICS CORP: Approved and filed Articles of Amendment to effect a 1-for-5 reverse stock split of common stock (effective 2023-02-01).

Change: charter amendment
Effective: 2023-02-01

Exact text from the filing

The Company’s board of directors set the split ratio in the reverse stock split at 1-for-5 and approved and authorized the filing of the Articles of Amendment to effect the reverse stock split with the Utah Department of Commerce, Division of Corporations and Commercial Code. The Articles of Amendment and reverse stock split became effective at 5:00 p.m. Eastern Standard Time on February 1, 2023

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Source: SEC EDGAR

accession 0001654954-23-001177

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