IEG HOLDINGS CORPORATION (OTCMKTS:IEGH) 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
On June 21, 2017, IEG Holdings Corporation (the Company) filed
Articles of Amendment to the amended and restated articles of
incorporation of the Company (the Articles of Amendment Effecting
the Reverse Split) with the Secretary of State of the State of
Florida to effect as of 6:00 p.m., Eastern Time, on July 25, 2017
a one-for-one thousand reverse stock split (the Reverse Split) of
the Companys common stock, par value $0.001 per share (Common
Stock). In accordance with the Articles of Amendment Effecting
the Reverse Split, immediately prior to the Reverse Split on July
25, 2017, the Company will pay in cash to those shareholders
holding fewer than 1,000 shares of common stock, instead of
issuing fractional shares, an amount per share equal to the
average closing price per share of the common stock on the OTCQB,
averaged over the period of 30 consecutive calendar days ending
on the trading day prior to July 25, 2017, without interest. The
foregoing description is subject to, and qualified in its
entirety by the Articles of Amendment Effecting the Reverse Split
attached as Exhibit 3.1 hereto and incorporated herein by
reference.
On June 21, 2017, the Company filed Articles of Amendment to the
amended and restated articles of incorporation of the Company
(the Articles of Amendment Effecting the Forward Split) with the
Secretary of State of the State of Florida to effect as of 6:01
p.m., Eastern Time, July 25, 2017 a one thousand-for-one forward
stock split of the Common Stock (the Forward Split). The
foregoing description is subject to, and qualified in its
entirety by the Articles of Amendment Effecting the Forward Split
attached as Exhibit 3.2 hereto and incorporated herein by
reference.
The Reverse Split and Forward Split had both been approved by the
Companys Board of Directors and the holder of a majority of the
voting power of the issued and outstanding capital stock of the
Company, as required, on June 14, 2017.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
| Exhibit No. | Description | |
| 3.1 |
Articles of Amendment of IEG Holdings Corporation (Effecting the Reverse Split), filed with the Secretary of State of the State of Florida on June 21, 2017. |
|
| 3.2 |
Articles of Amendment of IEG Holdings Corporation (Effecting the Forward Split), filed with the Secretary of State of the State of Florida on June 21, 2017. |
IEG Holdings Corp ExhibitEX-3.1 2 ex3-1.htm EXHIBIT 3.1 ARTICLES OF AMENDMENT TO THE ARTICLES OF INCORPORATION OF IEG HOLDINGS CORPORATION (Reverse Stock Split) Pursuant to Section 607.1006 of the Florida Business Corporation Act,…To view the full exhibit click here About IEG HOLDINGS CORPORATION (OTCMKTS:IEGH)
IEG Holdings Corporation is a consumer finance company. The Company is engaged in the business of providing unsecured consumer loans ranging from $2,000 to $10,000. The Company operates in Consumer Loans segment. It offers loans online under the consumer brand Mr. Amazing Loans through its Website and online application portal at www.mramazingloans.com. It has obtained additional state lending licenses, and are licensed and originating direct consumer loans in the states of Alabama, Arizona, California, Florida, Georgia, Illinois, Kentucky, Louisiana, Missouri, Nevada, New Jersey, New Mexico, Oregon, Pennsylvania, Texas, Utah and Virginia. It has approximately 80 loans in default representing over 4.81% of the number of loans in its active portfolio. Its subsidiaries include Investment Evolution Corporation, which holds state licenses, leases, employee contracts, and other operating and administrative expenses, and IEC SPV, LLC, which is a bankruptcy remote special purpose vehicle.