Examples of Reverse Split Amendment in a sentence
As soon as practicable following the Stockholder Reverse Split Approval, but in no event later than the business day following the Stockholder Reverse Split Approval Date, the Company shall file the Reverse Split Amendment with the Secretary of State of the State of Delaware.
The Company will, beginning on the date that the Reverse Split Amendment (as defined below) has been filed to the Secretary of State of the State of Delaware, reserve from its duly authorized capital stock a number of shares of Common Stock for issuance of the Underlying Shares.
Board Discretion to Effect Reverse Stock Split Because the reverse split authorization previously granted by the stockholders at our October 5, 2012 annual meeting was executed, the Caladrius Board of Directors is seeking the Reverse Split Amendment Authorization as described in this Proposal 3.
Recommendation of the Board of Directors The Board of Directors believes that the Reverse Split Amendment is in the best interest of the Company and its Stockholders for the reasons described above.
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In connection with the Reverse Split Amendment, the Company filed Articles of Amendment to revert the par value of the Common Stock issued and outstanding from $0.003 per share to $0.001 per share, effective as of September 3, 2019, following the effective time of the Reverse Split Amendment.
Each share of Series B Preferred Stock shall be convertible, at any time and from time to time from and after the Reverse Split Amendment (as defined in the Purchase Agreement) has been filed to the Secretary of State of the State of Delaware , at the option of the Holder thereof, into a number of shares of Common Stock equal to the product of the Conversion Ratio (as defined below) and the number of shares of Series B Preferred Stock to be converted.
In addition, we have assumed that, prior to the issuance of shares of Common Stock pursuant to the Merger Agreement, the Reverse Split Amendment shall have been filed with the Secretary of State and become effective in accordance with the Merger Agreement and the General Corporation Law.
The Reverse Split Amendment may be filed with the Secretary of State of Nevada at any time on or prior to December 31, 2022, at the direction of the Board of Directors, and will be effective upon filing.
Each proposed Reverse Split Amendment will contain one of the foregoing stock split ratios and the corresponding proportionate reduction in the number of authorized shares of common stock.