Adagio Medical Seeks Shareholder Approval for Up to 1-for-500 Reverse Split to Avoid Nasdaq Delisting
ADGM sits 29% above its 52-week low of $0.12.
Summary
Adagio Medical is seeking shareholder approval for a reverse stock split of up to 1-for-500 to regain Nasdaq compliance and avoid delisting, amid a liquidity crisis and ongoing strategic alternatives review.
Key Events · Corporate Governance and Compliance · ADGM
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Reverse Split Proposal Up to 1-for-500
Board seeks shareholder approval for a reverse stock split at a ratio between 1-for-10 and 1-for-500, with the final ratio to be determined by the Board in its sole discretion.
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Nasdaq Delisting Risk
Company received deficiency letters for the $1.00 minimum bid price rule (June 12, 2026) and the $2.5 million stockholders' equity requirement (August 13, 2026). Expects delisting notice after December 9, 2026 if bid price stays below $1.00.
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Compliance Plan Submitted
Company submitted a plan to regain compliance with the stockholders' equity requirement to Nasdaq on September 28, 2026. Nasdaq may grant up to 180 days to regain compliance if the plan is accepted.
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Authorized Shares Unchanged
Reverse split would not reduce the 210,000,000 authorized common shares, effectively increasing the number of shares available for future issuance and potential dilution.
Analysis · ADGM · Industrial Applications And Services
Adagio Medical is asking shareholders to approve a reverse stock split at a ratio between 1-for-10 and 1-for-500, with the Board choosing the final ratio. The company is fighting to stay listed on Nasdaq after receiving deficiency notices for both the $1.00 minimum bid price rule and the $2.5 million stockholders' equity requirement. With cash at just $7.7 million and a going concern warning already on file, the reverse split is a survival move to keep the stock trading on a major exchange while the company explores strategic alternatives, including a possible sale or merger. The filing also confirms the company submitted a compliance plan to Nasdaq on September 28, 2026, and expects a delisting notice after December 9, 2026 if the bid price stays below $1.00.
How filings like this one have moved
In the 30 days to Oct 1, 2026, 35.7% of the 1024 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.57%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, ADGM was trading at $0.15 on NASDAQ in the Industrial Applications And Services sector, with a market capitalization of approximately $3.5M. The 52-week trading range was $0.12 to $2.58. This filing was assessed with negative market sentiment and an importance score of 8 out of 10.