Lunai Bioworks Inc.

Lunai Bioworks, Inc. has amended and restated the employment agreement for its CEO and director, David Weinstein. Effective October 14, 2026, his annual base salary is reduced to $275,000 from $400,000, and he is not entitled to bonuses or equity awards without Board approval. His October 2026 salary payment is deferred. Mr. Weinstein has waived his rights to severance pay and accelerated vesting under the previous agreement, and the non-competition and non-solicitation clauses have been terminated, though confidentiality obligations remain.

Lunai Bioworks Inc. issued a letter to shareholders detailing significant strategic advancements and legal action. The company secured its first revenue-generating, multi-year defense collaboration for AI-enabled chemical threat assessment and established the Pathfinder Consortium with leading academic institutions. Concurrently, Lunai is advancing its precision neurology pipeline and has initiated legal action against alleged naked short sellers, with the court granting expedited discovery to identify responsible parties and restore shareholder value.

Lunai Bioworks Inc. announced it has regained compliance with Nasdaq Listing Rule 5550(a)(2), which requires a minimum bid price of $1.00 per share. Nasdaq confirmed this on June 11, 2026, acknowledging the company met the terms from previous Panel decisions. However, Lunai Bioworks will be under a mandatory one-year Panel monitor. During this period, any future non-compliance with the Bid Price Rule would lead to a delist determination without the usual cure or compliance periods, though the company would retain the right to request a new hearing.

Lunai Bioworks Inc. announced a 1-for-8 reverse stock split of its common stock, effective May 22, 2026. The action is intended to increase the market price per share to help the company regain compliance with Nasdaq's minimum bid price requirement of $1.00. This marks the second reverse stock split for the company, following a 1-for-10 split in September 2025.

Lunai Bioworks Inc. reported a significant reduction in its net loss for the nine months ended March 31, 2026, to $(1.55) million, a substantial improvement from $(51.28) million in the prior year. This improvement was partly due to the absence of a large goodwill impairment charge and a $12.02 million gain from the bankruptcy of a subsidiary. Despite these improvements, the company issued a going concern warning due to recurring losses and dependence on additional financing. The company also began recognizing service revenue of $20,942 during the period.

Lunai Bioworks Inc. received an additional staff determination letter from Nasdaq on April 28, 2026, notifying the company of non-compliance with the $35,000,000 market value of listed securities (MVLS) requirement, which may serve as another basis for delisting. This follows the expiration of the MVLS grace period on April 27, 2026. The company is actively working to regain compliance with Nasdaq's listing rules, having completed a merger on May 1, 2026, to address the Equity Rule and secured stockholder approval for a reverse stock split to meet the Bid Price Rule.

Lunai Bioworks Inc. completed the acquisition of Neurobridge IP Holdings Incorporated on May 1, 2026, through a merger with its subsidiary. The acquisition, valued at $20 million, was paid entirely with 8 shares of newly designated Series B Convertible Preferred Stock. Neurobridge IP Holdings' sole assets were a multi-jurisdictional patent portfolio, with no operating infrastructure or liabilities. The Series B Preferred Stock is convertible into common stock at $1.50 per share, but requires stockholder approval before conversion.

Lunai Bioworks, Inc. announced the postponement of its Special Meeting of Stockholders from May 4, 2026, to May 8, 2026, at 9:00 a.m. Eastern Time. The virtual-only meeting was rescheduled to provide stockholders additional time to vote and to help the company achieve a quorum. This decision addresses timing issues related to the distribution of proxy materials and broker discretionary voting rules under NYSE Rule 452. The record date for voting eligibility remains April 10, 2026, and previously submitted proxies will still be voted.