PEDEVCO CORP 8-K

What Happened
PEDEVCO Corp (PED) filed an 8-K reporting that its board approved and the company effected a 1-for-20 reverse stock split of its common stock. The board filed a Certificate of Amendment on March 10, 2026, and the reverse split became effective March 13, 2026 at 12:01 a.m. ET; post-split trading on the NYSE American is expected to begin March 13, 2026 under the same ticker "PED" with a new CUSIP 70532Y402. The reverse split follows stockholder written consent and the company’s February 2, 2026 Schedule 14C information statement process.

Key Details

• Reverse split ratio: 1-for-20; outstanding shares expected to drop from ~266.0 million to ~13.3 million.
• Effective date/time: March 13, 2026 at 12:01 a.m. Eastern Time; Certificate of Amendment filed March 10, 2026.
• Fractional shares: no fractional shares issued; holders entitled to fractions will receive cash in lieu based on the closing price the trading day before the Effective Time.
• Equity awards/options: outstanding options and awards were adjusted proportionately using the 1-for-20 ratio (rounded down); exercise prices increased inversely so aggregate exercise amounts remain approximately the same.
• Transfer agent/exchange agent: Equiniti Trust Company LLC will provide instructions; shares held in “street name” will be adjusted by brokers.

Why It Matters
The reverse split reduces the number of issued shares and increases the per-share price, which the board says aims to streamline capital structure and potentially broaden investor interest following the company’s recent merger activity. The split does not change par value, voting rights, or total authorized shares (so authorized-but-unissued shares increase relative to outstanding shares). For investors, share counts, option coverages and brokerage positions will be adjusted automatically; shareholders who would receive fractional shares will instead receive cash.