SplitMay 6, 2026, 06:49 PM
NFT Ltd. Approves 1-for-80 Reverse Share Split Effective May 18
AI Summary
NFT Ltd. announced its board of directors approved a 1-for-80 reverse share split for its Class A and Class B ordinary shares, effective on or about May 18, 2026. This action follows shareholder approval on April 17, 2026. Upon effectiveness, shareholders will receive one new share for every eighty held, and the Class A shares will begin trading on a split-adjusted basis under the existing symbol "MI" with a new CUSIP number. The reverse split will reduce the outstanding Class A ordinary shares from approximately 18.48 million to 230,986, and the par value will be $0.04 per share. The company cautioned that it cannot assure the post-split price will reflect the ratio or be maintained.
Key Highlights
- NFT Ltd. board approved a 1-for-80 reverse share split on April 23, 2026.
- The reverse split is expected to become effective on or about May 18, 2026.
- Shareholders will receive one new ordinary share for every eighty shares held.
- Class A and Class B ordinary shares will have a new par value of $0.04 per share.
- Class A shares will continue to trade on NYSE American under symbol "MI" with CUSIP G6363T123.
- Outstanding Class A shares will reduce from approximately 18,478,875 to 230,986.
- Fractional shares resulting from the split will be rounded up to the nearest whole share.