KIDZ AI Plans June 8 1-for-10 Reverse Split to Meet Nasdaq Rule
KIDZ•KIDZ AI will implement a 1-for-10 reverse split on June 8, reducing outstanding Class B shares from 11.13 million to 1.11 million. Authorized Class B shares drop from 40 million to 4 million to satisfy Nasdaq’s $1.00 minimum bid requirement.
1. Reverse Split Overview
KIDZ AI’s board approved a 1-for-10 reverse stock split of both Class A and Class B common shares, effective June 8 at 12:01 a.m. ET. The split aims to increase the per-share price and streamline the company’s equity structure.
2. Share Count Adjustments
Following the split, outstanding Class B shares will decrease from 11,134,459 to 1,113,446 and Class A shares from 130,701 to 13,071. Authorized shares for Class B fall from 40 million to 4 million and for Class A from 1 million to 100,000. Equity incentive plan shares, warrants and convertible securities will be proportionally adjusted, with any fractional shares rounded up to the nearest whole share.
3. Listing Compliance and CUSIP Change
The reverse split is designed to meet Nasdaq’s $1.00 minimum bid price for continued listing. Class B shares will trade on a split-adjusted basis under the existing symbol beginning June 8, and the new CUSIP for Class B shares will be 182744300.
