SplitJun 10, 2026, 05:16 PM
AVAX One Board Approves 1-for-12 Reverse Stock Split
AI Summary
AVAX One Technology Ltd. announced its Board of Directors approved a 1-for-12 reverse stock split of its common shares, effective June 15, 2026. This action, approved by shareholders on May 29, 2026, aims to meet Nasdaq's minimum bid price requirement. The split will reduce the outstanding shares from 92,335,381 to approximately 7,694,615, with fractional shares being cashed out.
Key Highlights
- Board approved a 1-for-12 reverse stock split of common shares.
- Reverse split effective June 15, 2026, at market open.
- Shareholders approved the reverse split on May 29, 2026.
- Purpose is to comply with Nasdaq Listing Rule 5550(a)(2) bid price requirement.
- Pre-split outstanding shares: 92,335,381 common shares.
- Post-split outstanding shares: approximately 7,694,615 common shares.
- All fractional shares will be cashed out.
Price Impact
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