Sunshine Biopharma CEO buys voting-preferred shares for $10K; 1-for-200 reverse split approved

Sunshine Biopharma Inc.

CEO Steve Slilaty purchased 100,000 Series B Preferred shares for $10,000, each with 1,000 votes.
Preferred stock is non-convertible, non-redeemable, with $0.10 liquidation preference superior to common.
Slilaty, holder of ~57.4% voting power, approved by written consent a reverse stock split up to 1-for-200.
Reverse split up to 1-for-200 aims to regain Nasdaq $1.00 minimum bid; effective 20 days after mailing info statement filed March 5.

Key facts

Extracted from this filing and checked against the source text.

Shareholder Votes SEC 8-K Item 5.07 confidence 1.0

Sunshine Biopharma Inc. shareholders approved Reverse stock split of the Company’s common stock at a ratio up to 1-for-200 at the 2024-03-04 meeting.

Proposal: reverse split
Outcome: passed
Meeting: 2024-03-04

Exact text from the filing

On March 4, 2024, Dr. Slilaty, as the holder of the majority of the voting power of the stockholders of the Company, approved by written consent to effect a reverse stock split of the Company’s common stock at a ratio up to 1-for-200.

View on SEC.gov

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Sunshine Biopharma Inc. filing history →

Source: SEC EDGAR

accession 0001683168-24-001357

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