Impact Biomedical Inc. has announced a 1-for-12.62 reverse stock split of its issued and outstanding common stock, which will become effective at 12:01 a.m., Eastern Time, on September 23, 2026. The split will reduce the total number of outstanding shares from approximately 107.8 million to approximately 8.5 million.
The reverse split is intended to support the company’s proposed business combination with Zoar Limited (formerly Dr. Ashley’s Limited) and to assist in regaining compliance with the continued listing requirements of the NYSE American LLC. No fractional shares will be issued; instead, any fractional shares resulting from the split will be rounded up to the nearest whole share.
Proportional adjustments will be made to outstanding equity awards, related exercise prices, and the number of shares reserved for issuance under equity incentive plans. The split will not affect the total number of authorized shares or alter any stockholder’s percentage ownership interest. Following the split, the company’s common stock will continue to trade on the NYSE American under the ticker symbol "IBO" and will be assigned a new CUSIP number.
On December 30, 2025, the company’s stockholders authorized the Board of Directors to effect a reverse stock split at a ratio within a range of 1-for-12.48 to 1-for-50, with the exact ratio determined at the discretion of the Chief Executive Officer. The company noted that there is no assurance the reverse split will enable it to maintain compliance with applicable listing standards or that the proposed merger will be consummated.
