secwatch.observer — SEC 8-K summary
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Issuer:     Grove Collaborative Holdings, Inc. (GROV)
CIK:        0001841761
Form:       8-K
Filed at:   2023-05-25T23:59:59+00:00
Accession:  0001841761-23-000054
Event type: other_material
Sentiment:  neutral
Materiality: 0.60
Item codes: 5.07, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Grove Collaborative approves 1-for-5 reverse stock split effective June 5, 2023 to regain NYSE compliance
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- Board approves 1-for-5 reverse split after stockholder authorization for ratio between 1-for-5 and 1-for-25.
- Effective after market close June 5, 2023; shares begin split-adjusted trading June 6, 2023 under same ticker GROV.
- Class A shares to reduce from ~129M to ~26M; Class B from ~50M to ~10M; no fractional shares (cash in lieu).
- Warrant exercise price adjusted to $57.50 per share; shares underlying warrants reduced to 1.61M.
- Company must maintain $1/share for 30 trading days post-split to regain NYSE listing compliance; potential date July 20, 2023.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1841761/000184176123000054/0001841761-23-000054-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1841761/000184176123000054/grov-20230524.htm
  HTML page:      https://secwatch.observer/filing/0001841761-23-000054

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer