SharpLink Gaming effects 1-for-10 reverse stock split to regain Nasdaq $1 bid compliance

SharpLink Gaming Ltd.

1-for-10 reverse split effective April 25, 2023; shares reduced from 26,881,144 to ~2,688,114.
Authorized ordinary shares reduced from 92,900,000 (NIS 0.06) to 9,290,000 (NIS 0.60).
Trading on Nasdaq under symbol SBET starts split-adjusted April 26; new CUSIP M8273L110.
Split intended to meet Nasdaq's minimum $1.00 bid price for continued listing.

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

SharpLink Gaming Ltd.: Amended Memorandum of Association and Articles of Association to effect a 1-for-10 reverse stock split and reduce authorized shares from 92.9M to 9.29M (effective 2023-04-25).

Change: charter amendment
Effective: 2023-04-25

Exact text from the filing

On April 25, 2023 (the “Effective Date”), SharpLink Gaming Ltd., an Israel corporation (the “Company”), effected a 1-for-10 reverse share split of all of the Company’s share capital, including its ordinary shares, nominal value of NIS 0.06 per share (the “Reverse Stock Split”) and adopted amendments to its Memorandum of Association and Second Amended and Restated Articles of Association (the “M&AA”) in connection with the Reverse Stock Split.

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Source: SEC EDGAR

accession 0001654954-23-005220

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