Shareholders Approve Reverse Split (1:100-1:500) and Name Change for Gravitics Merger
Summary
Shareholders have approved a reverse stock split (1:100 to 1:500) and a name change to "Gravitics Holdings, Inc.," crucial steps for the company's merger with Gravitics, Inc., a $40 million public offering, and a Nasdaq uplisting.
Key Events · Corporate Governance and Compliance · NIMU
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Reverse Stock Split Approved
Shareholders approved a reverse stock split in a ratio between 1-for-100 and 1-for-500, with the exact ratio to be determined by the Board. This action is a prerequisite for uplisting to Nasdaq.
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Name Change to Gravitics Holdings, Inc. Approved
The company will change its name to reflect its new business focus following the merger with Gravitics, Inc.
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Enabling Merger and Uplisting
These approvals are critical conditions for the previously announced merger with Gravitics, Inc., a planned $40 million public offering, and an uplisting to The Nasdaq Capital Market.
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Majority Shareholder Consent
The actions were approved by written consent from holders of approximately 63.4% of the voting stock, including CEO Dr. Jane Hsiao and Director Dr. Phillip Frost.
Analysis · NIMU · Manufacturing
This filing confirms shareholder approval for a significant reverse stock split and a corporate name change, which are critical prerequisites for the company's previously announced merger with Gravitics, Inc., a planned $40 million public offering, and an uplisting to Nasdaq. The reverse split, with a wide ratio range of 1-for-100 to 1-for-500, is necessary to meet Nasdaq's minimum bid price requirements. While reverse splits can be dilutive and are often viewed negatively, in this context, it is an essential step to enable a major strategic transformation for the shell company. The name change to "Gravitics Holdings, Inc." aligns the company's identity with its future business focus.
How filings like this one have moved
In the 30 days to Aug 25, 2026, 37.4% of the 3413 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was 0.00%. These are measured outcomes after filings of this importance, not a forecast for this one.
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At the time of this filing, NIMU was trading at $0.09 on OTC in the Manufacturing sector, with a market capitalization of approximately $13.9M. The 52-week trading range was $0.00 to $0.09. This filing was assessed with neutral market sentiment and an importance score of 8 out of 10.