Twin Vee PowerCats to Slash Outstanding Shares from 19.6M to 0.5M via 1-for-37 Split
VEEE•Twin Vee PowerCats approved a 1-for-37 reverse stock split effective May 4, 2026, consolidating approximately 19.6 million shares into 0.5 million, with authorized shares cut from 500 million to ~13.5 million. The split aims to meet Nasdaq’s $1 minimum bid price requirement and will adjust equity incentive shares proportionally.
1. Reverse Stock Split Details
Twin Vee PowerCats’ board approved a 1-for-37 reverse stock split effective at 12:01 a.m. ET on May 4, 2026. Trading of the split-adjusted shares will begin on the Nasdaq Capital Market under the existing ticker with a new CUSIP 90177C 309.
2. Outstanding and Authorized Shares Reduction
The reverse split will reduce outstanding common shares from approximately 19.6 million to about 0.5 million, and lower authorized shares from 500.0 million to roughly 13.5 million. Par value and other stock terms remain unchanged.
3. Purpose to Regain Nasdaq Compliance
The board determined the reverse split is necessary to regain compliance with the Nasdaq minimum $1 bid price requirement and to broaden potential investor interest in Twin Vee PowerCats’ common stock.
4. Impact on Equity Awards and Shareholders
All stockholders will have their positions automatically adjusted with any fractional shares rounded up to whole shares. Equity incentive plans, stock options, warrants and other awards will be proportionally adjusted per their terms, with no action required by holders.
