DarkIris Sets 1-for-50 Reverse Split Effective October 22
DKI is trading near its 52-week low of $0.052 (2.7% above the low) on elevated volume (9.9× avg).
Summary
DarkIris will combine every 50 shares into one effective October 22, cutting Class A shares outstanding from 46.7 million to roughly 934,625 and Class B from 429,886 to about 8,598. Trading continues on Nasdaq under DKI with a new CUSIP. This is the second stage of the reverse split mechanism shareholders approved at the October 6 EGM, following the 10,000x authorized-share increase in August and the $6M best-efforts offering that closed October 9 at $1.44 per unit. The stock trades near $0.05, close to its 52-week low, so the consolidation is primarily a listing-compliance move rather than a sign of improving fundamentals. Post-split, the tiny share count and the zero-exercise-price warrants from the offering leave heavy overhang; watch whether the price holds above $1 after October 22.
At the time of this announcement, DKI was trading at $0.05 on NASDAQ in the Technology sector, with a market capitalization of approximately $111.8K. The 52-week trading range was $0.05 to $19.36. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: GlobeNewswire.