Illinois Proposal to amend certificate to reduce par value, increase authorized common stock and reverse stock split with Exhibit
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How to fill out Proposal To Amend Certificate To Reduce Par Value, Increase Authorized Common Stock And Reverse Stock Split With Exhibit?
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FAQ
A stock split is when a corporation reduces the par value of each share of stock outstanding and issues a proportionate number of additional shares. It also may affect the par value and market price per share, reducing them proportionately.
Will the reverse stock split change the par value of the share? Yes, the par value of each share will be increased proportionally to the exchange ratio, i.e. it will be multiplied by 20.
Par value is the value of a single common share as set by a corporation's charter. It is not typically related to the actual value of the shares. In fact it is often lower. Any stock certificate issued for shares purchased shows the par value.
A reverse stock split has no immediate effect on the company's value, as its market capitalization remains the same after it's executed. However, it often leads to a drop in the stock's market price as investors see it as a sign of financial weakness.
As the Securities and Exchange Commission (SEC) explains, "state corporate law and a company's articles of incorporation and by-laws generally govern the company's ability to declare a reverse stock split and whether shareholder approval is required."
Typically, you can't just make an amendment saying you now have a new par value. Instead, the most common way that corporations change their par value is with a stock split (or reverse stock split). A stock split is exactly what it sounds like: a division of shares.