XORTX Therapeutics Announces 1-for-5 Share Consolidation Reducing Shares to 1.39M
XORTX Therapeutics’ board approved a 1-for-5 consolidation of its common shares, reducing issued and outstanding shares from 6,962,218 to approximately 1,392,444 effective March 27, 2026. The move ensures compliance with Nasdaq’s $1.00 minimum share price requirement and affects convertible securities’ exercise prices proportionally.
1. Board Approves 1-for-5 Consolidation
XORTX Therapeutics’ board of directors approved a share consolidation on a basis of one post-consolidation share for every five pre-consolidation shares, effective March 27, 2026, without a concurrent name change.
2. Ensuring Nasdaq Listing Compliance
The consolidation reduces issued and outstanding shares from 6,962,218 to approximately 1,392,444 and is designed to meet Nasdaq’s requirement of maintaining a share price above $1.00 for at least 10 trading days by April 13, 2026.
3. Impact on Convertible Securities and Trading
Exercise and conversion prices for existing convertible securities will be proportionally adjusted, fractional shares will be rounded or cancelled, and post-consolidation shares will trade under a new CUSIP on Nasdaq and TSXV when markets open March 27, 2026.