ALLIED HEALTHCARE PRODUCTS, INC. (NASDAQ:AHPI) Files An 8-K Material Modification to Rights of Security Holders
Item 3.03Material Modification to Rights of Security Holders.
The information set forth in Item 5.03 hereof is incorporated by
reference into this Item 3.03.
Item 5.03Amendments to Articles of Incorporation or
Bylaws: Change in Fiscal Year.
On December 5, 2016, Allied Healthcare Products, Inc. (the
Company) filed a Certificate of Amendment to the Companys Amended
and Restated Certificate of Incorporation (the Certificate of
Amendment) with the Secretary of State of the State of Delaware
to effect a one-for-two reverse stock split of the Companys
Common Stock (the Reverse Stock Split). The Reverse Stock Split
will be effective on the Nasdaq Stock Exchange on December 7,
2016. As previously disclosed, the Companys shareholders approved
the Reverse Stock Split on November 10, 2016.
As a result of the Reverse Stock Split, each two shares of issued
and outstanding Common Stock of the Company will be automatically
converted into one share of Common Stock, respectively, without
any change in the par value per share. No fractional shares will
be issued as a result of the Reverse Stock Split. Any
shareholders who otherwise would be entitled to a fractional
share will receive, in lieu thereof, a cash payment (without
interest) in an amount equal to the fraction to which the
shareholder would otherwise be entitled.
Trading in the Companys Common Stock will continue on the Nasdaq
Stock Exchange on a post-split basis under the unchanged symbol
AHPI. The Common Stock will have a new CUSIP number: 019222 207.
The foregoing description of the Certificate of Amendment is
qualified in its entirety by reference to the full text of the
Certificate of Amendment which is attached hereto as Exhibit3.1
and is incorporated herein by reference.
Item 8.01Other Events.
As previously disclosed, on February 26, 2016, the Nasdaq Stock
Market (Nasdaq) notified the Company that its common stock failed
to maintain a minimum bid price of $1.00 over the previous 30
consecutive business days as required by Nasdaq Listing Rule
5550(a)(2). On November 11, 2016, Nasdaq notified the Company
that the closing bid price of its common stock had remained equal
to or greater than $1.00 per share for sixteen consecutive
business days and, accordingly, the Company had regained
compliance with Listing Rule 5550(a)(2) and this matter is now
Item 9.01Financial Statements and Exhibits.
Certificate of Amendment to the Amended and Restated
Certificate of Incorporation of Allied Healthcare Products,
About ALLIED HEALTHCARE PRODUCTS, INC. (NASDAQ:AHPI)
Allied Healthcare Products, Inc. manufactures a range of respiratory products used in the healthcare industry in a range of hospital and alternate site settings, including sub-acute care facilities, home healthcare and emergency medical care. The Company’s respiratory care products are used in the treatment of acute and chronic respiratory disorders such as asthma, emphysema, bronchitis and pneumonia. Respiratory care products are used in both hospitals and alternate care settings. Its medical gas equipment consists of hospitals, alternate care settings and surgery centers. The Company’s medical gas equipment products include medical gas system construction products, medical gas system regulation devices, disposable oxygen and specialty gas cylinders, and portable suction equipment. Its emergency medical products include respiratory/resuscitator products and trauma patient handling products. It also offers trauma and patient handling products, including spine immobilization products. ALLIED HEALTHCARE PRODUCTS, INC. (NASDAQ:AHPI) Recent Trading Information
ALLIED HEALTHCARE PRODUCTS, INC. (NASDAQ:AHPI) closed its last trading session down -0.02 at 1.26 with 62,578 shares trading hands.