Deals & Filings
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Deals & Filings coverage, page 3
Next Technology's Second Reverse Split In Eleven Months Puts Its Cumulative Ratio At 20,000-To-1
Next Technology Holding (Nasdaq: NXTT) combined every 100 shares into one on August 10, eleven months after a 200-for-1 consolidation. Multiplied, the two ratios come to 20,000-to-1 — eighty times the 250-to-1 threshold in Nasdaq Listing Rule 5810(c)(3)(A)(iv), the limb that strips a company of the 180-day bid-price cure period. The bar is conditional, not present: the stock closed Friday at $6.54, and no deficiency notice appears anywhere in the company's 2026 filings.
Liminatus Pharma Has Fourteen Trading Sessions To Show A $1 Bid. Its Reverse Split Is Authorized, But No Ratio Has Been Announced.
A Nasdaq Hearings Panel moved the company's stock to the Nasdaq Capital Market effective Aug. 4 and set a Sept. 3 deadline to demonstrate compliance with the minimum bid price requirement, according to the company's Aug. 13 release. Shareholders authorized a reverse split of up to 1-for-50 on Aug. 3; the company has not announced a ratio or an effective date.
Farmmi Discloses Nasdaq Bid-Price Deficiency Seventeen Months After Its Last 1-for-12 Consolidation
The Chinese mushroom supplier said on August 12 that Nasdaq had notified it a day earlier of non-compliance with the $1.00 minimum bid price rule, giving it until February 8, 2027. Shareholders have already been asked for authority to consolidate at ratios as wide as one-for-250 — a range that runs up against a Nasdaq rule withdrawing the cure period from repeat splitters.
Lument Finance Trust Sets 1-for-10 Reverse Split for Sept. 9 to Address NYSE Price Criteria
The NYSE-listed REIT disclosed the split on Thursday, Aug. 13, alongside second-quarter results. It follows a July 24 exchange notice that the stock's average closing price had fallen below $1.00 over 30 trading days. The company says the cure period ends Jan. 24, 2027, and compliance is not automatic on the split date.
Three Deficiency Notices, One Reverse Split, and Four Listing Deadlines Running Into 2027
Nerdy will consolidate its Class A and Class B shares 1-for-15 at 12:01 a.m. Eastern on Wednesday, August 19, cutting roughly 127.9 million Class A shares to about 8.5 million. Optimum Communications, PS International Group and Reed's each disclosed a separate deficiency notice on Friday, August 14, under three different rules on two different exchanges, with cure dates running from February 8, 2027 to November 29, 2027. Two of the four failures are price problems a split can address; two are not.
One Person, Three Roles: Scully Royalty's Executive Chairman Adds Interim CEO and Interim CFO
A one-paragraph August 13 filing hands Michael Smith the top executive and top financial post at a company that rescinded its own January disclosures, went four months without an auditor, and spent nearly two months suspended from the NYSE. The filing record, not the press release, tells the story.
Northann's Auditor Says It Never Signed the Audit. Seven Weeks Into a Halt, the Company Still Has No Replacement.
LAO Professionals told Northann Corp. it never issued or consented to the audit report filed with the 2025 Form 10-K. NYSE American halted the stock on June 25. On Friday the company told the SEC it cannot file its June-quarter 10-Q because it has no auditor. Shareholders cannot sell on the exchange, and no document on file carries a date for when that changes.
CleanCore's CEO Form 4 Records a Subscription Inside the Company's Own $100 Million Offering, Not an Open-Market Buy
Tyler Hassen acquired 2,000,000 shares at $0.25 plus 2,000,000 matching five-year warrants on August 12 — but the filing's own footnote places the transaction inside CleanCore's best-efforts public offering, on the same terms as every other subscriber, in a deal that takes shares outstanding from 226,260,684 to a stated 626,260,684.
Harte Hanks Agrees to a $5.00 Sale to Star Equity — and at Least Half the Price Is a 10% Perpetual Preferred
Star Equity Holdings and Harte Hanks announced a definitive merger at 8:30 a.m. ET Friday: $5.00 per share, about $38.4 million on roughly 7.68 million fully diluted shares. Cash is capped at about $19.2 million and elections are subject to proration, while elections for Star's 10% Series A Cumulative Perpetual Preferred are uncapped — so an all-cash election is not an all-cash outcome. Harte Hanks closed Friday at $4.30, 14% below the headline price.
Beyond Meat's 1-for-30 Split Trades for the First Time, Opening a 12-Session Run at an August 31 Nasdaq Deadline
Split-adjusted shares closed Friday at $13.47. The March deficiency notice requires ten consecutive business days at $1.00 or more before August 31, and twelve sessions remain in the window.
CXApp Sets a 1-for-50 Reverse Split for Aug. 18, Three Weeks Before Its Nasdaq Clock Runs Out
The split lifts CXAI's warrant strike to $575 and cuts the share count to about 2.3 million. A further slip below $1.00 within the next year would leave the company ineligible for any cure period.
Haoxi's 1-for-20 Split Takes Effect Friday, the Third Consolidation Since January 2025
The Nasdaq-listed Beijing advertising group consolidates its Class A shares for the third time in nineteen months, five weeks after a $4 million registered direct offering rebuilt the share count the last split had erased.
bioAffinity prices a $4 million placement while appealing a Nasdaq delisting determination
The San Antonio diagnostics company agreed on Thursday to sell 8,462,027 shares plus warrants over 16,924,054 more, a package that would multiply its share count more than fourfold if fully exercised. It is doing so while barred from any Nasdaq compliance period and while management's own going-concern doubt remains unresolved.
Farmmi Discloses Nasdaq Bid-Price Notice and a Same-Day Debt-for-Shares Swap at About 12.7 Cents
The Chinese agricultural products supplier told the SEC on Wednesday that Nasdaq had flagged its Class A shares for trading under $1.00 for 30 straight business days. The same Form 6-K disclosed the issuance of 1,581,027 new shares to retire $200,000 of a 2024 promissory note.
Silexion Prices $2.5 Million Nasdaq Offering With One-for-One Warrant Coverage, Expected to Close Thursday
The RNAi developer priced 3,846,161 ordinary shares at $0.65 on Wednesday alongside an equal number of five-year Series E warrants, a structure that puts more than 7.6 million potential shares behind gross proceeds smaller than the company's own most recent quarterly net loss.
Modiv Industrial pulls its shares off the NYSE as the Global Net Lease merger closes
A Form 25-NSE filed Wednesday removes Modiv's Class C common and its 7.375% Series A preferred from the New York Stock Exchange, completing a stock-for-stock deal the companies announced in May at a $535 million enterprise value and taking another small net-lease REIT off the listed tape.
ENvue Medical's $50 million equity facility shows how differently micro-caps are paying for capital
A discount-to-VWAP facility with no disclosed floor price, a priced $30 million placement with 18.75 million warrants attached, and a secured convertible carrying a 24% default rate — three structures disclosed over the past six weeks, with three very different dilution profiles.
Three Nasdaq compliance letters in two days show the micro-cap cure clock running both ways
uCloudlink started a fresh 180-day bid-price clock, Netcapital was handed a second one, and Nocera declared its listing file closed. The three disclosures, all dated August 10 or 11, map the full lifecycle of a small-cap listing problem.