SplitMay 26, 2026, 04:07 PM
Smith Micro Software Announces 1:5 Reverse Stock Split
AI Summary
Smith Micro Software, Inc. announced that its Board of Directors approved a 1-for-5 reverse stock split, following stockholder approval at the Annual Meeting on May 26, 2026. The reverse stock split will become effective on June 4, 2026, with trading on a split-adjusted basis commencing on June 5, 2026, under a new CUSIP number. Additionally, stockholders approved the election of two directors, ratified the appointment of the independent auditor, approved executive compensation on an advisory basis, and sanctioned amendments to the equity incentive plan and two Nasdaq proposals concerning warrant share issuances.
Key Highlights
- Smith Micro Software's Board approved a 1-for-5 reverse stock split.
- The reverse stock split will be effective at 11:59 p.m. ET on June 4, 2026.
- Common Stock will trade on a split-adjusted basis under new CUSIP 832154504 on June 5, 2026.
- Stockholders approved the reverse stock split proposal with 15,997,732 votes For.
- Stockholders elected Timothy C. Huffmyer and William W. Smith, Jr. as directors.
- Stockholders ratified SingerLewak LLP as the independent auditor with 16,607,751 votes For.
- Stockholders approved the amendment to the Omnibus Equity Incentive Plan with 10,110,581 votes For.
- Stockholders approved two Nasdaq proposals related to warrant share issuance.
Price Impact
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