Olenox Industries Plans 1-for-10 Reverse Stock Split to Boost Nasdaq Compliance
Olenox Industries will enact a 1-for-10 reverse stock split on May 8, reducing outstanding shares from 10.2 million to 1.2 million to meet Nasdaq’s $1.00 minimum bid price. Fractional shares will be rounded up and equity awards proportionally adjusted, with new CUSIP 78418A802 effective at 12:01 AM ET.
1. Reverse Stock Split Details
Olenox Industries shareholders approved a 1-for-10 reverse stock split to be effective May 8, 2026 at 12:01 AM ET. This action reduces issued and outstanding shares from about 10.2 million to approximately 1.2 million under new CUSIP 78418A802, with fractional shares rounded up.
2. Nasdaq Listing Compliance
The primary aim of the split is to raise the per-share trading price above the $1.00 minimum bid requirement for continued listing on the Nasdaq Capital Market under the existing symbol. Par value and authorized share counts remain unchanged.
3. Shareholder Impact
All stockholders will see their percentage ownership preserved, aside from minor rounding adjustments, and no action is required. Outstanding options, warrants, and equity awards will receive proportionate adjustments to share counts and exercise or conversion prices.