NextPlat Corp 8-K

What Happened NextPlat Corp (NXPL) filed an amended and restated certificate of incorporation on April 2, 2026 to implement a 1‑for‑10 reverse stock split, effective at 12:01 AM Eastern Time on April 13, 2026. At the Effective Time every 10 issued and outstanding shares of common stock will automatically be combined into one share; par value remains $0.0001. The company issued a press release on April 2, 2026 announcing the effective date.

Key Details

• Outstanding shares will be reduced from approximately 26.9 million to approximately 2.7 million; the number of authorized common shares remains 50 million.
• Proportionate adjustments will be made to all outstanding stock options and warrants (fewer shares reserved; exercise prices increased proportionally). The equity compensation plan reserve will be reduced proportionately.
• No fractional shares will be issued; holders of fractional interests will receive cash (without interest) equal to the fraction multiplied by the Nasdaq closing price on the effective date.
• Common stock will begin trading on a reverse‑split adjusted basis on The Nasdaq Capital Market at market open April 13, 2026; trading symbol remains "NXPL" and the post‑split CUSIP is 68557F308.
• The filing includes the split’s effect on per‑share figures: for the year ended Dec 31, 2025, basic weighted average shares drop from ~26.535 million to ~2.653 million and basic loss per share changes from $(0.44) pre‑split to $(4.41) post‑split (2024 figures show the same 10× change).

Why It Matters A reverse split reduces the number of shares outstanding and increases the per‑share price and per‑share loss/earnings metrics by the split factor (10× here), which affects comparability of historical per‑share figures. The action does not change the company’s total equity value, par value, or authorized share count, but it will change share counts, option/warrant exercise prices and reported per‑share amounts going forward. Investors should note the effective date (April 13, 2026), the cash treatment for fractional shares, and that the Nasdaq trading symbol remains unchanged.