Snail Inc will implement a 1-for-5 reverse stock split effective July 2, reducing outstanding Class A and B shares to about 3.09 million and 5.75 million respectively. The move aims to raise per-share bid price above Nasdaq’s $1.00 threshold to restore compliance and broaden investor appeal.
Snail Inc's board approved a 1-for-5 reverse stock split of its Class A and Class B common stock, effective 11:59 p.m. ET on July 2, 2026. Post-split, Class A shares will drop from ~15.47 million to ~3.09 million and Class B from ~28.75 million to ~5.75 million.
The reverse split is designed to elevate the company's per-share bid price above the Nasdaq Capital Market's $1.00 minimum threshold. This action seeks to restore Snail Inc's listing status and enhance appeal to institutional and retail investors.
Outstanding warrants, options and convertible notes will be adjusted proportionally in share count and exercise prices. Fractional share interests will be cashed out based on the ten-day average closing price before the split, with brokerage-held shares handled by each investor's broker.
