Wearable Devices Initiates 1-for-3 Split, Reduces Shares to 2.19M to Meet $1 Bid
WLDS•Wearable Devices Ltd. will implement a one-for-three reverse stock split, reducing its issued shares from 6,568,408 to roughly 2,189,469 and warrants from 32,886 to about 10,962 to satisfy Nasdaq’s $1 minimum bid price requirement. The split, approved on June 4, takes effect June 22 with new CUSIPs M97838409 and M97838219.
1. Reverse Split Mechanics
Wearable Devices Ltd. will execute a one-for-three reverse stock split, converting every three existing ordinary shares and warrants into one share or warrant. Post-split, issued share count will fall to approximately 2,189,469 and publicly held warrants to about 10,962, with fractional holdings rounded to the nearest whole unit under the Company’s Articles.
2. Compliance Rationale
The primary objective is to increase the per-share trading price to at least $1.00 and maintain listing on the Nasdaq Capital Market under Listing Rule 5810(c)(3)(A). By proactively raising the share price, the Company seeks to avoid immediate delisting proceedings that follow a prior reverse split within two years without a grace period.
3. Shareholder and Security Impact
The reverse split will not alter any shareholder’s percentage ownership aside from fractional share adjustments. Proportional adjustments will be made to outstanding options, warrants, restricted shares, restricted share units, and equity awards under incentive plans, with reciprocal exercise price increases where applicable.
4. Next Steps and Timetable
The split will become effective at market open on June 22, 2026, with trading on a split-adjusted basis under existing symbols. New CUSIPs M97838409 for ordinary shares and M97838219 for warrants will replace current identifiers. Holders of certificated shares will receive instructions from the transfer agent, while book-entry and street name holders need take no action.
