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Frequently Asked Questions
  What information does Nasdaq require for a reverse stock split?
Identification Number 317
A company planning a reverse stock split must log in to the Listing Center and complete the Company Event Notification at least 15 calendar days prior to the effective date.  Corporate Data Operations requires additional documentation that may not be known at the time of the form submission.  We will not process and effect the reverse split until the following items outlined below are submitted:
  • Confirmation that the shareholders have approved the transaction
  • The definitive split ratio
  • The new CUSIP number
  • Confirmation from DTCC that the new CUSIP number has been made eligible in their systems
  • Total Shares Outstanding (TSO)/Par Value before and after the split
  • Written confirmation that all legal filings have been completed with the appropriate state or non-U.S. agency (Amended Articles of Incorporation, etc.)
  • Proxy or Board Resolutions
  • The expected market effective date of the reverse stock split (as of the opening of business).

You must provide copies of the legal filings once they have been filed and accepted in the place of incorporation, as-filed versions of these documents with confirmation that they have been filed is acceptable

Once all documentation is submitted and reviewed, we will communicate that we are in a position to operationally proceed with the reverse split, and work with you on an effective date to be communicated publicly.

The company must also provide public notice of the reverse stock split using a Regulation FD compliant method and inform Nasdaq MarketWatch though the Electronic Disclosure Submission System.  This disclosure should be disseminated prior to, or in conjunction with, the announcements that Corporate Data Operations will make on the day prior to the market effective date at approximately 1:00 p.m.  On the day prior to the market effective date, a draft disclosure must be submitted to Corporate Data Operations for review by a firm 12:00 pm deadline to


Publication Date*: 12/23/2022 Mailto Link Identification Number: 317
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