VisionWave Sets 1-for-20 Reverse Stock Split Effective Sept. 22
(RTTNews) - VisionWave Holdings, Inc. (VWAV) announced that it will effect a 1-for-20 reverse stock split of its issued and outstanding common stock, effective at 12:01 a.m. Eastern Time on September 22, 2026.
The company's common stock will continue to trade on the Nasdaq Global Market under the symbol "VWAV" and is expected to begin trading on a split-adjusted basis when the market opens on September 22.
The stock will be assigned a new CUSIP number, 927950204.
VisionWave stockholders approved the reverse stock split at the company's 2026 Annual Meeting held on September 1, 2026.
The Board subsequently set the ratio at 1-for-20 and approved the related amendment to the company's certificate of incorporation.
The reverse stock split is primarily intended to increase the per-share trading price of the common stock and help the company maintain compliance with Nasdaq's $1.00 minimum bid price requirement.
Under the reverse split, every 20 shares of common stock will automatically be combined into one share. The number of issued and outstanding shares is expected to decline from approximately 47.5 million to approximately 2.4 million shares, subject to adjustments for fractional shares.
No fractional shares will be issued. Any fractional share resulting from the reverse split will be rounded up to the next whole share, and no cash payments will be made in lieu of fractional shares.
Proportionate adjustments will also be made to shares issuable under outstanding warrants, pre-funded warrants, stock options, restricted stock units and convertible notes, as well as their applicable exercise, conversion or purchase prices.
VisionWave said holders of shares through banks, brokers or other nominees do not need to take any action, as their positions will be adjusted automatically.
VisionWave Holdings is a defense and advanced sensing technology company developing AI-driven, RF-based sensing, autonomy and computational acceleration technologies for defense, homeland security and commercial infrastructure applications.
Currently, VWAV is trading at $0.28, down 22.70%.
