SplitJul 1, 2026, 08:31 AM
Snail Announces 1-for-5 Reverse Stock Split
AI Summary
Snail, Inc. announced a 1-for-5 reverse stock split for its Class A and Class B Common Stock, effective July 2, 2026. The Class A Common Stock will begin trading on a split-adjusted basis on Nasdaq on July 6, 2026, under the existing symbol "SNAL". This action is primarily aimed at regaining compliance with the Nasdaq Capital Market's minimum bid price requirement of $1.00 per share and making the stock more attractive to investors. The split will proportionally reduce the number of outstanding shares, and stockholders entitled to fractional shares will receive a cash payment.
Key Highlights
- Snail, Inc. announced a 1-for-5 reverse stock split for its Class A and Class B Common Stock.
- The reverse stock split will become effective at 11:59 p.m. Eastern Time on July 2, 2026.
- Class A Common Stock will begin trading on a split-adjusted basis on Nasdaq on July 6, 2026.
- The new CUSIP number for Class A Common Stock will be 83301J308.
- Outstanding Class A shares will reduce from ~15.47M to ~3.09M, and Class B from ~28.75M to ~5.75M.
- The split is intended to regain compliance with Nasdaq's minimum $1.00 bid price requirement.
- Fractional shares will be paid in cash based on the average closing sales price over 10 days.
Price Impact
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