Nasdaq Reverse Split Clause Samples
The Nasdaq Reverse Split clause defines the terms and conditions under which a company listed on the Nasdaq exchange may consolidate its shares, reducing the number of outstanding shares while proportionally increasing the share price. This clause typically outlines the ratio of the reverse split, the effective date, and the process for adjusting shareholder accounts to reflect the new share structure. Its core practical function is to help companies meet Nasdaq's minimum share price requirements or improve the marketability of their stock, thereby addressing compliance issues and enhancing investor perception.
Nasdaq Reverse Split. If deemed necessary by the Parties, Check-Cap shall submit to the Check-Cap Shareholders at the Check-Cap Shareholder Meeting a proposal to approve and adopt an amendment to Check-Cap’s articles of association to authorize the Check-Cap Board to effect the Nasdaq Reverse Split.
Nasdaq Reverse Split. Homology shall submit to Homology’s stockholders at the Homology Stockholder Meeting the Reverse Stock Split Proposal, and the Parties shall take such other actions as shall be reasonably necessary to effectuate the Nasdaq Reverse Split.
Nasdaq Reverse Split. If deemed necessary by the Parties, Nobul shall (i) submit to the Nobul Shareholders a proposal to approve and adopt an amendment to Nobul’s articles to authorize the Nobul Board to effect the Nasdaq Reverse Split and (ii) enter into a voting and support agreement with ▇▇▇▇▇ ▇▇▇▇▇ which provides that ▇▇. ▇▇▇▇▇ shall, among other things, vote all Nobul Shares of which he is the registered or beneficial holder or over which he has control or direction, in favour of the Nasdaq Reverse Split.
Nasdaq Reverse Split. Gem shall submit to Gem’s stockholders at the Gem Stockholder Meeting a proposal to approve and adopt an amendment to Gem’s certificate of incorporation to authorize the Gem Board to effect the Nasdaq Reverse Split.
Nasdaq Reverse Split. If deemed necessary by the Parties, Vibrant shall submit to Vibrant’s shareholders at the Vibrant Shareholder Meeting a proposal to approve and adopt an amendment to Vibrant’s articles of association to authorize the Vibrant Board to effect the Nasdaq Reverse Split.
Nasdaq Reverse Split. Parent shall submit to Parent’s stockholders at the Parent Stockholders Meeting a proposal to approve and adopt an amendment to Parent’s certificate of incorporation to authorize the Parent Board to effect the Nasdaq Reverse Split, and shall take such other actions as shall be reasonably necessary to effectuate the Nasdaq Reverse Split.
Nasdaq Reverse Split. Frequency shall submit to Frequency’s stockholders at the Frequency Stockholder Meeting the Reverse Stock Split Proposal, and the Parties shall take such other actions as shall be reasonably necessary to effectuate the Nasdaq Reverse Split.
Nasdaq Reverse Split. Parent and the Company shall use reasonable best efforts to mutually agree upon the actual reverse stock split ratio to be determined in accordance with the definition of "Nasdaq Reverse Split."