Aspire Biopharma Approves One-for-Thirty Reverse Split to Meet Nasdaq Bid Rule
Aspire Biopharma will implement a one-for-thirty reverse split on May 11, 2026, reducing outstanding shares from about 36.33 million to 1.21 million and adopting new CUSIP 738920305. The move is aimed at meeting Nasdaq's minimum bid price requirement while adjusting all options, warrants and incentive awards.
1. Approval and Effective Date
At its special stockholder meeting on April 10, 2026, Aspire Biopharma’s investors authorized the board to execute a one-for-thirty reverse split. The board filed the amendment on April 24 and the split will become effective on May 11, 2026, before market open.
2. Share and Security Adjustments
The reverse split will consolidate approximately 36.33 million outstanding shares into about 1.21 million shares, with no change to par value. All outstanding options, warrants, restricted stock awards and equity incentives will be proportionally adjusted and fractional shares rounded up to whole shares.
3. Compliance Objective and Details
This action is intended to restore Aspire Biopharma’s compliance with the Nasdaq Capital Market minimum bid price requirement. Post-split shares will trade under the existing symbol on a new CUSIP 738920305, with authorized share counts unchanged.