Nexalin Announces 1-for-30 Reverse Stock Split; Stock Down
(RTTNews) - Nexalin Technology, Inc. (NXL), a developer of non-invasive neurostimulation medical devices, announced that its board of directors has approved a 1-for-30 reverse stock split of its common stock to ensure continued compliance with Nasdaq's minimum bid-price requirement.
The reverse split will take effect on August 28, 2026, at 5:00 p.m. Eastern Time, with trading on a split-adjusted basis beginning August 31, 2026, under the existing ticker symbol NXL.
Following the split, every 30 shares of Nexalin's issued and outstanding common stock will be combined into one share, while the par value remains unchanged at $0.001 per share.
No fractional shares will be issued; instead stockholders entitled to fractional shares will receive cash payments. The company's transfer agent, Continental Stock Transfer & Trust Co., will manage the exchange process. Shareholders holding stock electronically in book-entry form or through brokerage accounts will see their positions automatically adjusted.
Nexalin continues to focus on advancing its portfolio of neurostimulation devices aimed at addressing mental health disorders. Its next-generation HALO Clarity device and Gen-2 SYNC 15 milliamp system are designed to penetrate deep brain structures associated with psychiatric conditions, with approvals already secured in China, Brazil and Oman.
NXL has traded between $0.29 and $2.00 over the past year. The stock closed Wednesday's trading at $0.29, down 7.44%. In pre-market trading the stock is at $0.23, down 20.41%.
