Classover Initiates 1-for-50 Reverse Split to Secure Nasdaq $1 Bid Price
Classover Holdings will implement a 1-for-50 split effective March 9, 2026, to meet Nasdaq's $1.00 minimum bid requirement. Authorized shares fall from 50 million to 1 million (Class A) and from 2 billion to 40 million (Class B), reducing outstanding Class B shares to roughly 1.1 million.
1. Reverse Split Approval and Rationale
The board approved a 1-for-50 reverse split on February 20, 2026 to comply with Nasdaq's $1.00 minimum bid price rule.
2. Share Authorization and Outstanding Reductions
Authorized Class A shares will drop from 50 million to 1 million and Class B from two billion to 40 million; outstanding Class A shares reduce to 130,700 and Class B to approximately 1,097,731.
3. Equity Plan and Security Adjustments
All equity incentive plan awards, outstanding warrants and convertible securities will be proportionately adjusted, and fractional shares will be rounded up to the nearest whole share.
4. Effective Dates and Trading Details
The reverse split becomes effective March 9, 2026 at 12:01 a.m. ET, with split-adjusted trading beginning March 10 under a new CUSIP of 182744201.