Wearable Devices to Slash Shares to 3.53 Million with 1-for-3 Split
Wearable Devices Ltd. will execute a 1-for-3 reverse split on March 11, reducing outstanding shares from 10.59 million to about 3.53 million and warrants from 98,589 to 32,863. The move targets a per-share price above Nasdaq’s $1 minimum bid requirement to preserve its listing.
1. Reverse Split Details
On March 6, Wearable Devices Ltd. announced a one-for-three reverse split effective March 11, 2026, adjusting its ordinary shares and tradable warrants. Post-split, outstanding ordinary shares will drop from 10,593,227 to approximately 3,531,076 and publicly held warrants from 98,589 to about 32,863, subject to rounding.
2. Purpose and Compliance
The reverse split is designed to elevate the per-share trading price above the $1.00 minimum bid required by Nasdaq Listing Rule 5810(c)(3)(A). This proactive measure aims to avoid potential immediate delisting proceedings under the Nasdaq's amended rules by regaining compliance with minimum bid requirements.
3. Shareholder Approval and Implementation
The company’s shareholders approved the reverse split at a special meeting on February 19, 2026, authorizing a one-for-three ratio. No change will occur to authorized share capital, and only fractional shares exceeding half of a unit will be rounded up, ensuring uniform treatment across shareholders.
4. Adjustments to Options and Warrants
Outstanding options, warrants, restricted shares, and share awards will be adjusted proportionally, increasing exercise prices and decreasing share counts under existing incentive plans and agreements. Share certificates will be exchanged via VStock Transfer while non-certificate holders need not take action.