DCX Sets Sept 28 Effective Date for 160-for-1 Reverse Split; Warrant Reset Could Add Millions of Shares
DCX is trading near its 52-week low of $0.072 (10% above the low) on elevated volume (5.8× avg).
Summary
DCX's 160-for-1 reverse split takes effect September 28, 2026, reducing outstanding Class A shares from 375.4M to ~2.35M. The filing also discloses that warrants from the recent $5M offering will have exercise prices reset to the lowest VWAP around the effective date, potentially increasing dilution beyond the standard adjustment.
Key Events · Corporate Governance and Compliance · DCX
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Reverse Split Effective Sept 28
160-for-1 consolidation reduces Class A shares from 375,387,811 to approximately 2,346,174 and Class B from 1,334 to approximately 9. Trading begins post-split on September 28 under symbol DCX with new CUSIP G4465R145.
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Warrant Reset Adds Dilution Risk
Series A and Series B warrants from the September 21 offering will have exercise prices reset to the lowest daily VWAP during the 5 trading days before and after September 28, with corresponding share count increases so aggregate exercise price stays unchanged. This could deliver more shares than the standard 160-for-1 adjustment.
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Capital Reorganization Mechanics
Authorized share capital temporarily increases to $48M post-consolidation, then reduces back to $300,000 divided into 2,994,600,000 Class A and 5,400,000 Class B shares — unchanged from pre-EGM levels.
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Nasdaq Compliance Context
The reverse split follows a $5M registered direct offering priced at $0.21 on September 21 and a $189M crypto markdown loss reported September 18. Current share price of $0.0795 underscores the listing pressure driving this action.
Analysis · DCX · Manufacturing
The 160-for-1 reverse split approved September 3 now has a firm effective date of September 28, 2026. More importantly, the filing reveals that Series A and Series B warrants from the $5M offering that closed September 21 will have their exercise price reset to the lowest VWAP during the 10 trading days around the effective date. This anti-dilution mechanism means warrant holders could receive substantially more shares than the standard 160-for-1 proportional adjustment, creating additional overhang on the post-split share count. The company is executing this split to regain Nasdaq compliance after shares fell to $0.0795, but the warrant reset terms introduce a new dilution variable that investors need to price in.
How filings like this one have moved
In the 30 days to Sep 30, 2026, 29.6% of the 1609 measured filings Wiseek scored 7 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, DCX was trading at $0.08 on NASDAQ in the Manufacturing sector, with a market capitalization of approximately $29.3M. The 52-week trading range was $0.07 to $609.60. This filing was assessed with negative market sentiment and an importance score of 7 out of 10.