AKERS BIOSCIENCES, INC. (NASDAQ:AKER) Files An 8-K Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year
Item 5.03. Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year.
Akers Biosciences, Inc. (the “Company”) filed two certificates of amendment (each a “Certificate of Amendment”, collectively, the “Certificates of Amendment”) to its Amended and Restated Certificate of Incorporation with the Secretary of State of the State of New Jersey, each to be effective as of November 25, 2019, to reduce its authorized common stock at a ratio of one-for-eight then effect a reverse stock split of its authorized and outstanding common stock at a ratio of one-for-twenty four. The reduction and the reverse stock split affected all stockholders uniformly and did not alter any stockholder’s percentage interest in the Company’s equity, except to the extent that the reverse stock split would have resulted in a stockholder owning a fractional share. Fractional shares have not been issued as a result of the reverse stock split; instead, the board of directors of the Company determined to effect an issuance of shares to holders that would otherwise have been entitled to a fractional share such that any fractional shares were rounded up to the nearest whole number. The Certificates of Amendment reduced the number of outstanding shares of the Company’s common stock to 521,676 and the number of shares of common stock the Company is authorized to issue to 2,604,167.
|3.1||Certificate of Amendment to the Amended and Restated Certificate of Incorporation.|
|3.2||Certificate of Amendment to the Amended and Restated Certificate of Incorporation.|
Akers Biosciences, Inc. Exhibit
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