- Colfax (NYSE:CFX) plans to hold a special meeting of stockholders (on Feb.28, 2022) for seeking approval for an amendment to the company's Amended and Restated Certificate of Incorporation which will make effective at the board's discretion:
- a reverse stock split of common stock par value $0.001/share at one of three reverse stock split ratios, one-for-two, one-for-three or one-for-four, with the exact ratio to be determined at later date.
- if and when the reverse stock split is effected, a corresponding reduction in the number of authorized shares based on selected reverse stock split ratio.
- The reverse stock split and authorized share count reduction is related to the earlier announced separation of its existing fabrication technology business, which will operate as ESAB and its specialty medical technology businesses, which will operate under the new name Enovis.
- Shares trading 3.3% down after hours.