Rubico Announces 1-for-10 Reverse Split, Cutting Outstanding Shares to 757,356
Rubico Inc. will implement a 1-for-10 reverse stock split at the opening of trading on April 9, 2026, reducing its outstanding shares from 7,573,572 to about 757,356. Fractional share entitlements will be cashed out, and the split aims to boost its share price and ensure Nasdaq compliance.
1. Reverse Split Details
Rubico’s board approved a 1-for-10 reverse stock split of its common shares effective at the opening of trading on April 9, 2026. Every 10 pre-split shares will convert into one post-split share, with no change to par value or authorized share count.
2. Share Count Reduction
The reverse split will reduce the company’s outstanding shares from 7,573,572 to approximately 757,356, before adjustments for fractional shares. Shareholders entitled to fractions will receive cash payments based on the closing price on April 8, 2026.
3. Trading and CUSIP Update
Post-split shares will trade under the existing symbol on the Nasdaq Capital Market beginning April 9, 2026, with a new CUSIP of Y1250N123. No shareholder action is required; holdings will adjust automatically in brokerage or book-entry accounts.
4. Purpose and Compliance
The company initiated the reverse split to increase its per-share trading price and meet Nasdaq continued listing requirements while preserving shareholder ownership percentages and voting rights.