SCWorx Schedules Shareholder Vote on Second Reverse Stock Split to Re-list on Nasdaq

summarizeSummary

SCWorx Corp. has filed its definitive proxy statement, scheduling a shareholder meeting for July 22, 2026, to vote on a second reverse stock split (1-for-1.5 to 1-for-10) aimed at regaining Nasdaq compliance, following a previous failed reverse split and delisting.

check_boxKey Events · Corporate Governance and Compliance · WORX

• Shareholder Meeting Scheduled

  The annual meeting of shareholders is set for July 22, 2026, to vote on several key proposals.

• Second Reverse Stock Split Proposed

  Shareholders will vote on a proposal to effect another reverse stock split, ranging from 1-for-1.5 to 1-for-10, to regain compliance with Nasdaq's $1.00 minimum bid price rule. This follows a 1-for-15 reverse split in April 2026 that failed to prevent delisting.

• Auditor Ratification

  Shareholders will vote to ratify Astra Audit & Advisory, LLC as the independent registered public accounting firm for 2026. This firm replaced BF Borgers CPA PC, which was denied the privilege of practicing before the SEC.

• Potential Future Dilution

  The company stated it may seek to finance future cash needs through public or private equity offerings, potentially occurring concurrently with or soon after the proposed reverse split.

auto_awesomeAnalysis · WORX · Technology

This definitive proxy statement confirms SCWorx's ongoing struggle for survival and re-listing on Nasdaq. The proposal for a second reverse stock split, just months after a 1-for-15 split failed to prevent delisting, highlights the company's severe financial distress and the urgent need to meet listing requirements. The explicit mention of potential future equity financings "concurrently with or soon after" the reverse split indicates significant future dilution risk. The ratification of a new auditor due to the previous one being barred by the SEC further underscores the company's compliance challenges and past financial reporting issues.