Clearmind Medicine Inc. (CMND) has approved a 1-for-10 reverse stock split as part of its plan to regain compliance with Nasdaq's minimum bid price requirement, with the adjustment set to take effect on May 21, 2026.
The clinical-stage biotech company, which develops non-hallucinogenic, second-generation neuroplastogen-derived therapeutics, said the reverse split will consolidate its issued and outstanding common shares from 10,190,337 to approximately 1,019,033, subject to rounding for fractional shares. No fractional shares will be issued, and any fractional amounts will be rounded up to the nearest whole share.
The company noted that its authorized share capital will remain unchanged following the adjustment, and proportionate modifications will be made to the exercise prices and share counts of outstanding options and warrants.
Clearmind's board of directors approved the reverse split on March 18, 2026, in accordance with its articles of association. Shares will continue trading on Nasdaq under the ticker CMND.
CMND is currently trading at $0.23, down 38.02%.
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