SplitJul 30, 2026, 09:02 AM
SCWorx Announces 1-for-12 Reverse Stock Split to Meet Nasdaq Rules
AI Summary
SCWorx Corp. announced a 1-for-12 reverse stock split of its common stock, effective August 3, 2026. This action is primarily intended to regain compliance with Nasdaq's minimum bid price requirement of $1.00 per share. However, the company also faces non-compliance with other Nasdaq listing rules, including the market value of publicly held shares and minimum publicly held shares requirements, with no guarantee that the reverse split will prevent delisting or result in a sustained increase in stock price.
Key Highlights
- SCWorx Corp. filed a Certificate of Amendment for a 1-for-12 reverse stock split.
- The reverse stock split becomes effective at 11:59 p.m. ET on August 3, 2026.
- Shares outstanding will decrease from 1,066,918 to approximately 89,000 post-split.
- No fractional shares will be issued; holders receive one whole share in lieu of fractional shares.
- The number of authorized shares will not be affected, increasing unissued shares available for dilution.
- The split aims to satisfy Nasdaq's minimum bid price requirement of $1.00 by August 28, 2026.
- Company also faces non-compliance with Nasdaq's $1,000,000 market value of publicly held shares and 500,000 minimum publicly held shares requirements.
- There is no assurance the split will result in a sustained price increase or prevent delisting.
Price Impact
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