Overview of the Reverse Stock Split#
NFT Ltd., a company listed on the NYSE American under the symbol MI, has announced a 1-for-80 reverse stock split for its Class A and Class B ordinary shares. This decision was made by the board of directors on April 23, 2026, following shareholder approval on April 17, 2026.
What is a Reverse Stock Split?#
A reverse stock split is a process where a company reduces the number of its outstanding shares, increasing the share price proportionally. In this case, shareholders will receive one new share for every 80 shares they currently hold. This means that if you owned 80 shares before the split, you will own 1 share after.
Changes Following the Split#
Once the reverse split takes effect on or about May 18, 2026, the Class A ordinary shares will have a new par value of $0.04 per share. The trading of these shares will continue under the same symbol, MI, but with a new identification number. Currently, there are about 18.5 million Class A shares outstanding, which will be reduced to approximately 231,000 shares post-split.
Current Financial Situation#
NFT Ltd. is currently facing challenges, with its stock trading at $0.24, just above its 52-week low of $0.23. The company has experienced a significant decline in its stock price, with a 6-month return of -94%. Its market capitalization stands at $4.48 million, and it has reported negative earnings per share of -$0.16.
Next Steps for Shareholders#
NFT’s transfer agent, VStock Transfer LLC, will handle the exchange of share certificates. Shareholders will receive a letter with instructions on how to proceed after the reverse split takes effect. Additionally, any fractional shares resulting from the split will be rounded up to the nearest whole share.