SplitApr 23, 2026, 08:32 AM
C3is Inc. Announces 1-for-7 Reverse Stock Split to Maintain Nasdaq Listing
AI Summary
C3is Inc. announced a 1-for-7 reverse stock split of its common stock, effective April 27, 2026, with split-adjusted trading commencing on Nasdaq the same day. This action aims to increase the market price of the company's common stock to satisfy Nasdaq's minimum bid price requirement for continued listing. The split will reduce outstanding shares from approximately 3.7 million to about 528,305, with proportionate adjustments to warrants and preferred stock.
Key Highlights
- C3is Inc. announced a 1-for-7 reverse stock split.
- The split will be effective at 11:59 pm ET on April 26, 2026.
- Trading on a split-adjusted basis begins April 27, 2026.
- Outstanding shares will reduce from ~3.7 million to ~528,305.
- Purpose is to meet Nasdaq's minimum bid price requirement.