Wellgistics Health Approves 1-for-50 Reverse Split to Raise Share Price
Wellgistics Health’s board approved a 1-for-50 reverse stock split effective May 26, 2026, reducing outstanding shares from approximately 125.7 million to 2.5 million. The split aims to boost the share price to meet Nasdaq Capital Market’s minimum bid requirement and will adjust options, warrants, and convertible securities proportionally.
1. Board Approval of Reverse Split
Wellgistics Health’s board of directors approved a 1-for-50 reverse stock split of its common shares, which will take legal effect at 12:01 a.m. Eastern Time on May 26, 2026. Every 50 existing shares will convert into one post-split share, with fractional shares rounded up to the nearest whole share.
2. Purpose: Nasdaq Capital Market Compliance
The reverse split is designed to increase the per-share trading price to satisfy the minimum bid price requirement for continued listing on the Nasdaq Capital Market, helping the company maintain its listing status. Failure to meet the bid threshold could have triggered delisting procedures.
3. Impact on Shares and Equity Instruments
Outstanding shares will decrease from about 125.7 million to roughly 2.5 million, while the total authorized share count remains unchanged. Proportional adjustments will also apply to exercise and conversion prices of stock options, warrants, convertible securities, and to shares issuable under incentive plans.
4. Shareholder Procedures and Adjustments
Shareholders holding shares electronically in book-entry form need not take any action, as positions will automatically update post-split. Those holding through brokers will see adjusted balances subject to each broker’s processing protocols.