Advent Technologies implements 1-for-30 reverse stock split effective May 13, 2024

ADVENT TECHNOLOGIES HOLDINGS, INC.

Effective May 13, 2024, every 30 shares of common stock combined into 1 share; cash paid for fractional shares at $3.105/share.
Common stock began trading on Nasdaq on split-adjusted basis under symbol ADN on May 14, 2024; new CUSIP 00788A204.
Warrants adjusted: each warrant now exercisable for 1/30th of a share of common stock; exercise price proportionally increased.
Shares reserved under 2021 Equity Incentive Plan and outstanding equity awards proportionally adjusted for the reverse split.
No change to any stockholder's percentage ownership except for de minimis effects from fractional shares.

Key facts

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Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

ADVENT TECHNOLOGIES HOLDINGS, INC.: Filed Certificate of Amendment to effect a 1-for-30 reverse stock split of common stock (effective 2024-05-13).

Change: charter amendment
Effective: 2024-05-13

Exact text from the filing

On May 13, 2024, Advent Technologies Holdings, Inc. (the “Company”) filed a Certificate of Amendment (the “Certificate of Amendment”) to the Company’s Second Amended and Restated Certificate of Incorporation, as amended, with the Secretary of State of the State of Delaware to effect a 1-for-30 reverse stock split (the “Reverse Stock Split”) of the Company’s common stock, par value $0.0001 per share (“Common Stock”).

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Source: SEC EDGAR

accession 0001829126-24-003455

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