Wearable Devices Announces 1-for-3 Reverse Stock Split

Key Highlights

• Wearable Devices will effect a 1-for-3 reverse split of its ordinary shares and tradable warrants.
• The primary purpose is to increase the per-share trading price to regain Nasdaq's $1.00 minimum bid price requirement.
• Split-adjusted trading for Ordinary Shares and Warrants will begin on June 22, 2026.
• The Reverse Share Split was approved by shareholders on June 4, 2026, and the board approved the 1-for-3 ratio.
• Outstanding Ordinary Shares will decrease from 6,568,408 to approximately 2,189,469.
• Outstanding Warrants will decrease from 32,886 to approximately 10,962.
• Fractional shares and warrants will be rounded to the nearest whole share/warrant.
• Proportional adjustments will be made to outstanding options, warrants, restricted shares, and share incentive plans.