Corporate ActionJul 13, 2026, 04:07 PM
Nerdy Inc. Seeks Approval for 1-for-5 to 1-for-15 Reverse Stock Split
AI Summary
Nerdy Inc. will hold a special meeting on August 13, 2026, for stockholders to approve a reverse stock split of its common stock, with a ratio ranging from 1-for-5 to 1-for-15. This measure is intended to help the company regain compliance with the NYSE's minimum bid price requirement and avoid potential delisting, following a non-compliance notice received on March 5, 2026. The Board retains discretion to determine the final ratio, timing, and whether to proceed with the split by December 31, 2026.
Key Highlights
- Stockholders to vote on reverse stock split at August 13, 2026 Special Meeting.
- Proposed reverse stock split ratio between 1-for-5 and 1-for-15.
- Aims to regain compliance with NYSE's $1.00 minimum bid price requirement.
- Received NYSE non-compliance notice on March 5, 2026.
- Board has discretion to implement split until December 31, 2026.
- 190,772,334 shares of Common Stock outstanding as of July 9, 2026.
- Fractional shares will be cashed out at market price.
Price Impact
More from NRDY