Dogness (International) Corporation Announces 1-for-20 Class A Common Share Consolidation
Retrieved on:
Monday, November 6, 2023
This amendment will result in a change to the Company's authorized shares and par value and effect a share consolidation of the Company's issued and outstanding Class A common shares ("Class A Shares") at the ratio of 1-for-20 with the marketplace effective date of November 7, 2023.
Key Points:
- This amendment will result in a change to the Company's authorized shares and par value and effect a share consolidation of the Company's issued and outstanding Class A common shares ("Class A Shares") at the ratio of 1-for-20 with the marketplace effective date of November 7, 2023.
- As a result of the share consolidation, each twenty Class A Shares outstanding will automatically combine and convert to one issued and outstanding common share without any action on the part of the shareholders.
- The share consolidation will reduce the number of Class A Shares outstanding from 31,055,259 to approximately 1,552,763 (subject to the redemption of the fractional shares).
- Both before and after the Share Consolidation, the outstanding number of Class B Shares is 9,069,000 shares.