Co-Diagnostics Sets Nov 13 Special Meeting: Reverse Split Up to 1-for-750, Warrant and Note Dilution Votes
CODX is trading near its 52-week low of $0.525 (4.0% above the low) on light trading volume (0.3× avg).
Summary
Co-Diagnostics filed the definitive proxy for its court-ordered November 13 special meeting, asking holders to approve a reverse split of up to 1-for-750, exercise of 3.4 million warrants at $1.56, conversion of the J.J. Astor note, and a 2,000,000-share increase to its equity plan.
Key Events · Corporate Governance and Compliance · CODX
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Special Meeting Set for November 13
The court-ordered meeting follows four failed quorum attempts. Record date is October 22, 2026, with 8,822,648 shares outstanding and a one-third quorum set by the October 15 court order.
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Reverse Split Authority Up to 1-for-750
Proposal 8 lets the Board effect one or more reverse splits at not less than 1-for-2, with a cumulative effect up to 1-for-750 within 12 months — a much wider range than the 1-for-50 in the September preliminary proxy.
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Warrant Exercise Worth $5.31M
Proposal 6 covers 3,404,724 new warrant shares at $1.56 each. The filing states up to approximately $5.31 million in gross proceeds if all are exercised for cash; failure to approve means a special meeting every 90 days.
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Astor Note Conversion Could Be Massive
Proposal 7 covers the $2.835M original principal note from a $2.1M funding plus 600,000 commitment shares. Per the filing, up to 4,185,000,000 conversion shares could be issuable if the floor price resets to $0.001.
Analysis · CODX · Industrial Applications And Services
This definitive proxy for the court-ordered special meeting on November 13, 2026 puts hard numbers on the dilution holders are being asked to approve. Proposal 6 covers 3,404,724 new warrant shares at $1.56, worth about $5.31 million if exercised for cash. Proposal 7 covers conversion of the J.J. Astor secured note plus 600,000 commitment shares; per the filing, if the floor price resets to $0.001, up to 4,185,000,000 conversion shares could be issuable. Proposal 8 authorizes one or more reverse splits with a cumulative effect up to 1-for-750, far wider than the 1-for-50 in the September preliminary proxy, while Proposal 5 would make the one-third quorum permanent. Against 8,822,648 shares outstanding, the 2,000,000-share equity plan increase in Proposal 2 is roughly 22.7% of the current count per the filing's own table. With a going concern warning and $3.6M of cash as of the last 10-Q, approval of these proposals is what unlocks the warrant cash and keeps the Astor facility from tripping its covenants.
How filings like this one have moved
In the 30 days to Oct 27, 2026, 36.2% of the 898 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.75%. 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, CODX was trading at $0.55 on NASDAQ in the Industrial Applications And Services sector, with a market capitalization of approximately $4.1M. The 52-week trading range was $0.53 to $46.50. This filing was assessed with negative market sentiment and an importance score of 8 out of 10.