Sunshine Biopharma shareholder consent authorizes reverse stock split of up to 1-for-20
SBFM•Sunshine Biopharma shareholders authorized a reverse stock split of up to 1-for-20, with the board able to choose the final ratio or abandon the split. The company said outstanding common shares could fall from 4,310,301 to between 215,515 and 2,155,150.
1. Split authorization
Dr. Steve N. Slilaty, who held about 97% of the voting power, authorized the action by written consent on Sept. 15, 2026. The board may implement or abandon the reverse split and can set a final whole-number ratio of up to 1-for-20. The split is aimed at supporting Nasdaq’s $1.00 minimum bid requirement after recent trading below $1.00; fractional shares would be rounded up to whole shares.
