NextPlat Approves 1-for-10 Reverse Split Cutting Shares to 2.7 Million
NextPlat’s board approved a 1-for-10 reverse split reducing outstanding shares from 27,026,215 to about 2,702,621, effective April 6, 2026, with trading on a split-adjusted basis starting April 7. Fractional shares will be cashed out and equity awards and options will be proportionately adjusted.
1. Reverse Stock Split Implementation
NextPlat’s board authorized a 1-for-10 reverse stock split to combine every ten outstanding shares into one share, reducing the total from 27,026,215 to approximately 2,702,621 shares effective April 6, 2026. Trading on a split-adjusted basis will begin April 7 under the existing ticker and new CUSIP 68557F308.
2. Fractional Shares and Equity Awards
No fractional shares will be issued; holders will receive cash in lieu of fractional interests. All equity incentive plans, stock options, warrants and other equity awards will be adjusted proportionately in accordance with their terms, preserving percentage ownership among shareholders.
3. Nasdaq Compliance and Shareholder Impact
The reverse split aims to restore compliance with Nasdaq’s minimum bid price rule, maintaining the company’s listing on the Nasdaq Capital Market. The split does not alter any investor’s ownership stake aside from cashing out fractional shares, and positions held in brokerage or book-entry form will be automatically adjusted.