SplitMay 5, 2026, 04:34 PM
Beyond Air Proposes Reverse Stock Split (1:2 to 1:20)
AI Summary
Beyond Air, Inc. announced a Special Meeting of Stockholders on June 18, 2026, to vote on a proposed reverse stock split. The company seeks approval for a reverse split at a ratio between 1-for-2 and 1-for-20, with the exact ratio to be determined by the Board. This action is primarily aimed at increasing the per share market price of its common stock to regain compliance with Nasdaq's minimum $1.00 bid price requirement. The company received a delisting notice from Nasdaq on April 7, 2026, and is not eligible for a compliance period due to a previous 1-for-20 reverse stock split in July 2025. A hearing with the Nasdaq Hearings Panel is scheduled for May 14, 2026.
Key Highlights
- Special Meeting of Stockholders scheduled for Thursday, June 18, 2026, at 4:30 p.m. Eastern Time.
- Proposal to approve a reverse stock split of common stock at a ratio ranging from 1-for-2 to 1-for-20.
- The exact ratio will be determined by the Board of Directors without further stockholder approval.
- Primary goal is to increase per share market price to meet Nasdaq's $1.00 bid price requirement.
- Company received a Nasdaq delisting notice on April 7, 2026, for failing the $1.00 bid price rule.
- Company is not eligible for a compliance period due to a 1-for-20 reverse stock split on July 14, 2025.
- A hearing before the Nasdaq Hearings Panel is scheduled for May 14, 2026.
- Record date for voting at the Special Meeting is April 20, 2026.