Item 5.03 Amendment to the Articles of Incorporation
On May 4, 2023, pursuant to shareholder approval received on April 27, 2023,
Vinco Ventures, Inc. (the "Company") filed a certificate of change with the
Secretary of State of the State of Nevada to effect a 1-for-20 reverse split of
its issued and outstanding shares of common stock.
Item 8.01 Other Information
On May 10, 2023, the Company announced that on May 4, 2023 it filed a
Certificate of Change with the State of Nevada for a 1-for-20 reverse split of
its issued and outstanding shares of common stock. This reverse split was
approved by its Board of Directors, and the shares of its common stock will
begin trading on a split-adjusted basis at the commencement of trading tomorrow,
May 11, 2023. The common stock shares will trade on the Nasdaq Capital Market
under the same symbol "BBIG" with a new CUSIP number, 927330 209. As per the
results of the Company's annual meeting, the Board of Directors approved a
1-for-20 reverse stock split of the Company's issued and outstanding shares of
common stock, par value $0.001 per share. Every 20 shares of the Company's
issued and outstanding common stock will automatically convert into one share of
common stock without any change to the par value of $0.001 per share. The amount
of common stock outstanding will be reduced from approximately 260 million
shares to approximately 13 million shares. Proportional adjustments will be made
to the number of shares of common stock issuable upon exercise of the Company's
outstanding stock options and warrants, as well as the applicable exercise
price.
The Company expects that the reverse stock split, which was approved by
shareholders at its shareholder meeting on April 27, 2023, will increase the
market price per share of the Company's common stock, bringing the Company into
compliance with The Nasdaq Capital Market's $1.00 minimum bid price requirement.
Registered stockholders holding pre-split shares of the Company's common stock
are not required to take any action to receive post-split shares. Stockholders
owning shares via a broker, bank, trust or other nominee will have their
positions automatically adjusted to reflect the reverse stock split, and will
not be required to take any action in connection with the reverse stock split.
No fractional shares will be issued in connection with the reverse stock split.
Any fractional shares created as a result of the reverse stock split will be
rounded up to the nearest whole share for each stockholder. The reverse stock
split impacts all holders of Vinco's common stock proportionally and will not
impact any shareholders' percentage ownership of common stock (except as to
rounding up changes).
Additional information regarding the reverse stock split is available on the
Form 8-K filed May3, 2023, as well as in the Company's definitive proxy
statement (Form DEF 14A) filed with the United States Securities and Exchange
Commission on March 31, 2023. Any additional questions can be directed to the
Company's transfer agent, Nevada Agency and Transfer Company, at 775-322-0626 or
www.natco.com.
Item 9.01 Exhibits
99.1 Certificate of Change
99.2 Press Release
104 Cover Page Interactive Data File
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VINCO VENTURES, INC. 
