SplitMay 13, 2026, 09:02 AM
Freight Technologies Announces 1-for-5 Reverse Stock Split
AI Summary
Freight Technologies, Inc. announced a one-for-five reverse stock split of its ordinary shares, effective May 18, 2026. This action is intended to increase the per share trading price to meet Nasdaq's $1.00 minimum bid price requirement for continued listing. The reverse split will reduce outstanding shares from 2,860,626 to 572,125, with fractional shares being rounded up or cancelled based on specific rules.
Key Highlights
- Approved a one-for-five reverse stock split of its ordinary shares.
- Split-adjusted trading to begin on May 18, 2026.
- Outstanding shares will be reduced from 2,860,626 to 572,125.
- Aims to meet Nasdaq's $1.00 minimum bid price requirement for continued listing.
- Fractional shares will be rounded up to the next whole share if one-half or more, or cancelled if less than one-half.
- The total number of authorized ordinary shares will not be affected.
- Shares will trade under a new CUSIP number G51413162.