SplitApr 27, 2026, 04:33 PM
MEHA Proposes Reverse Stock Split 1:2 to 1:250 to Meet Nasdaq Bid Price
AI Summary
Functional Brands Inc. will hold a Special Meeting on May 28, 2026, to vote on a reverse stock split and an equity incentive plan. The proposed reverse stock split, with a ratio between 1:2 and 1:250, aims to increase the common stock's per-share market price to meet Nasdaq's $1.00 minimum bid requirement and avoid delisting. The company received a Nasdaq non-compliance letter on December 30, 2025, with a deadline of June 29, 2026, to regain compliance.
Key Highlights
- Stockholders to vote on a reverse stock split proposal.
- Reverse stock split ratio range: one-for-two (1:2) to one-for-two hundred fifty (1:250).
- Purpose: Increase per share price to meet Nasdaq's $1.00 minimum bid requirement.
- Received Nasdaq non-compliance letter on December 30, 2025, for minimum bid price.
- Compliance deadline to regain Nasdaq listing is June 29, 2026.
- Current closing bid price (April 16, 2026) was $0.1251 per share.
- Also voting on the Functional Brands Inc. 2026 Equity Incentive Plan.
- Special Meeting of Stockholders scheduled for May 28, 2026.