SplitMay 4, 2026, 08:52 AM
Mint Inc Ltd Announces 1-for-10 Reverse Stock Split
AI Summary
Mint Inc Ltd announced a 1-for-10 reverse stock split of its Class A and Class B ordinary shares, approved by the Board of Directors on March 31, 2026. The split is intended to increase the per-share trading price to meet Nasdaq's minimum bid price requirement of $1.00 for continued listing. Trading on a post-split basis will commence on May 6, 2026, reducing outstanding Class A Ordinary Shares from approximately 20.5 million to 2.05 million.
Key Highlights
- Mint Inc Ltd's Board of Directors approved a 1-for-10 reverse stock split on March 31, 2026.
- The reverse stock split will become effective for trading on Nasdaq Capital Market on May 6, 2026, under the symbol "MIMI".
- The primary purpose is to regain compliance with Nasdaq's minimum bid price requirement of $1.00 per share.
- The number of outstanding Class A Ordinary Shares will reduce from 20,512,500 to approximately 2,051,250.
- Fractional shares resulting from the split will be rounded up to the next whole number.
- Options, warrants, and other convertible securities will be adjusted by dividing the number of shares by ten.