SkinHealth Systems Proposes 1:5 to 1:20 Reverse Stock Split

SkinHealth Systems Inc. announced a special meeting for stockholders on September 22, 2026, to vote on a proposed reverse stock split of its Class A Common Stock, with a ratio between 1-for-5 and 1-for-20. The primary goal is to increase the per-share trading price to meet Nasdaq's $1.00 minimum bid price requirement and avoid delisting. Delisting could trigger a "Fundamental Change" under its convertible notes, potentially requiring the company to repurchase $353.2 million in notes, which exceeds its $206.1 million cash balance as of June 30, 2026.