18 Jul 2025
📈MIAX Sapphire Proposes Rule Change for Reverse Stock Split
Self-Regulatory Organizations; MIAX Sapphire, LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend the Certificate of Incorporation of the Exchange's Ultimate Parent Company, Miami International Holdings, Inc.
Summary
The Securities and Exchange Commission published a notice regarding MIAX Sapphire's filing to amend its certificate of incorporation for a proposed reverse stock split. The changes aim to retain existing ownership and voting limitations while allowing for structural adjustments within the exchange's governance framework. Shareholders are required to approve the amendments to proceed with the changes.
Agencies
- Securities and Exchange Commission
Business Impact
$$$ - High
The proposed changes to MIAX Sapphire's certificate of incorporation involve a reverse stock split and introduce ownership limitations, impacting shareholders' control. This could affect capital resources and the governance structure for executives and business owners.