Stockholders Approve Reverse Split to Regain Nasdaq Compliance

summarizeSummary

Pasithea Therapeutics stockholders approved a reverse stock split at the September 9 annual meeting, authorizing the board to implement a 1:2 to 1:20 ratio at any time before September 9, 2027 to regain Nasdaq's $1.00 minimum bid price compliance.

check_boxKey Events · Corporate Governance and Compliance · KTTA

• Reverse Split Approved

  Stockholders approved Proposal 3 with 25,071,052 votes FOR, authorizing the board to effect a reverse stock split at a ratio between 1:2 and 1:20 at any time before September 9, 2027.

• Nasdaq Compliance Path

  The reverse split is the primary mechanism to regain Nasdaq's $1.00 minimum bid price requirement, with a compliance deadline of February 16, 2027 under the extension granted in August 2026.

• Board Discretion on Ratio

  The exact split ratio will be determined by the board without further stockholder approval, giving management flexibility to choose a ratio that achieves compliance while minimizing share count reduction.

• Directors Elected

  Dr. Tiago Reis Marques and Prof. Lawrence Steinman were elected as Class III directors for three-year terms expiring at the 2029 annual meeting.

auto_awesomeAnalysis · KTTA · Life Sciences

Pasithea Therapeutics stockholders approved a reverse stock split at the annual meeting, giving the board discretion to implement a ratio between 1:2 and 1:20 at any time before September 9, 2027. This is the key mechanism the company will use to regain Nasdaq's $1.00 minimum bid price requirement, which it must satisfy by February 16, 2027 under the extension granted in August. The approval removes the final hurdle before the board can act — the exact ratio and timing are now entirely at management's discretion. With the stock trading at $0.5697, a reverse split is the most direct path to compliance, though it does not change the company's underlying market capitalization or business fundamentals.