SkinHealth Systems Inc. has filed a Form 8-K announcing a 1-for-20 reverse stock split of its Class A Common Stock, which became effective at 12:00 a.m. Eastern Time on October 14, 2026. The split was approved by the company's board of directors and stockholders at a special meeting held on September 22, 2026.
The reverse split will reduce the number of outstanding shares from approximately 130.3 million to approximately 6.5 million, based on the count as of October 7, 2026. The company stated the move is intended to help it regain compliance with Nasdaq's $1.00 minimum bid price requirement for continued listing on the Nasdaq Capital Market.
Under the terms of the split, every twenty shares of Class A Common Stock issued and outstanding will automatically combine into one share. The par value per share remains unchanged, and the total number of authorized shares is also unaffected. The ticker symbol "SKIN" and the new CUSIP number 88331L306 will remain in effect.
No fractional shares will be issued. Stockholders who would have received a fractional share will instead receive a cash payment in lieu of that share. Additionally, the conversion rate for the company's 7.95% Convertible Senior Secured Notes due 2028 has been adjusted proportionately to reflect the split ratio.
Continental Stock Transfer & Trust Company is serving as the transfer agent for the transaction. The company indicated that stockholders holding shares through a broker or bank will have their positions automatically adjusted and generally will not need to take any action.
