Wellgistics Health, Inc. (WGRX), a health information technology company, said its board of directors has approved a 1-for-50 reverse stock split of its common stock. The move, backed by a majority of shareholders on April 2, 2026, is intended to raise the per-share trading price and help the company regain compliance with Nasdaq's minimum bid price requirement.
Split Details
The reverse split will take effect at 12:01 a.m. Eastern Time on May 26, 2026. Each 50 shares of common stock will automatically convert into one share, reducing outstanding shares from about 125.7 million to 2.5 million. No fractional shares will be issued; any fractional holdings will be rounded up to the nearest whole share.
Shareholder Impact
The total authorized shares remain unchanged, and proportional adjustments will be made to outstanding options, warrants, and convertible securities. Investors holding shares electronically or through brokers will see their positions automatically adjusted without needing to take action.
Company Background
Wellgistics integrates its proprietary AI platform EinsteinRx with its blockchain-enabled PharmacyChain system to optimize prescription drug dispensing. Its network connects more than 6,500 pharmacies and 200 manufacturers, offering wholesale distribution, digital prescription routing, direct-to-patient delivery, and AI-powered hub services such as eligibility verification, adherence support, and prior authorization.
WGRX has traded between $0.07 and $2.56 over the past year. The stock closed Wednesday's trading at $0.12, down 23.12%. In pre-market trading the stock is trading at $0.09 down 24.65%.
For comments and feedback contact: editorial@rttnews.com
Business News
May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.