Summary
This Form 8-K filing from Lumentum Holdings Inc. (LITE), dated August 3, 2015, primarily announces a significant amendment to its Certificate of Incorporation, effective July 28, 2015. This amendment was made in preparation for Lumentum's spin-off as an independent, publicly traded company, with its shares expected to commence trading on The NASDAQ Stock Market on August 4, 2015. The key action taken was a substantial forward stock split, specifically a 58,758,044-for-1000 split. This means every 1,000 shares of common stock were converted into over 58 million shares. Concurrently, the company increased its authorized share capital from 1,000 to 990 million shares of common stock and authorized 10 million shares of preferred stock. These corporate actions are foundational to establishing Lumentum's capital structure as a newly independent entity.
Key Highlights
- 1Lumentum Holdings Inc. filed an 8-K on August 3, 2015, reporting events from July 28, 2015.
- 2The company's Board of Directors approved an amendment to its Certificate of Incorporation.
- 3This amendment was in preparation for Lumentum's spin-off as an independent publicly traded company.
- 4A significant forward stock split of 58,758,044-for-1000 was enacted.
- 5The authorized number of common stock shares was increased from 1,000 to 990,000,000.
- 610,000,000 shares of Preferred Stock were also authorized.
- 7The amendment became effective on July 28, 2015, and Lumentum was set to commence trading on NASDAQ on August 4, 2015.