NextPlat Approves 1-for-10 Reverse Stock Split

NextPlat announced that its Board of Directors has approved a 1-for-10 reverse stock split of the company's issued and outstanding common stock. The reverse stock split is expected to become effective at 12:01 a.m. Eastern Time on April 6, 2026, with trading on a split-adjusted basis beginning on The Nasdaq Capital Market upon the commencement of trading on Tuesday, April 7, 2026 under the company's existing ticker symbol, "NXPL." At the effective time, every 10 shares of NextPlat's issued and outstanding common stock will automatically be combined into one share of common stock. The reverse stock split will reduce the number of shares of the company's outstanding common stock from 27,026,215 shares to approximately 2,702,621 shares, subject to adjustment for fractional shares. The number of authorized shares of common stock and preferred stock under the company's amended and restated certificate of incorporation, as amended, will not be reduced in connection with the reverse stock split. The reverse stock split was previously approved by the company's stockholders at the special meeting of stockholders held on March 27, 2026, which authorized the Board of Directors to implement a reverse split. The Board determined that implementing the reverse split at this time is appropriate to regain compliance with the minimum bid price requirement for maintaining the listing of the company's common stock on The Nasdaq Capital Market and to broaden potential investor interest.