GI Dynamics Shareholder Update
GI Dynamics is not currently listed on any public securities exchange. During 2021, the Board of Directors of the Company (the “Board”) approved, by unanimous written consent, amendments to effect a reverse stock split (the “Reverse Split”) of its outstanding shares of common stock, par value $0.01 (“Common Stock”), followed immediately by a forward stock split of its Common Stock (the “Forward Split,” and, together with the Reverse Split, the “Stock Split”). The Certificates of Amendment to the Certificate of Incorporation were filed with the Secretary of State of the State of Delaware on July 19, 2021, and became effective immediately thereafter. As a result of the Stock Split, stockholders owning fewer than 1,000 shares of Common Stock were cashed out at a price of $0.06 per share, and the holdings of all other stockholders remain unchanged. The Stock Split was undertaken as part of the Company’s plan to suspend its obligations to file periodic and current reports and other information with the Securities and Exchange Commission (the “SEC”) under the Exchange Act. The actions, included effecting the Stock Split, terminating the registration of the Company’s Common Stock under Section 12(g) of the Exchange Act and suspending the Company’s obligations under Section 15(d) of the Exchange Act. After giving effect to the actions, the Company was no longer subject to the reporting requirements under the Exchange Act or other requirements applicable to a public company. On July 21, 2021, the Company filed a Form 15 with the SEC certifying that it has less than 300 stockholders, which immediately suspended the Company’s obligations to file certain periodic reports with the SEC.
The documents filed with the SEC be found on the SEC Edgar filing database.
Past ASX Announcements
GI Dynamics delisted from the Official List of the Australian Stock Exchange (ASX) on July 22, 2020. To access the ASX please visit:
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