Axonex AI Group Ltd has taken a significant step to maintain its listing on the Nasdaq Capital Market by approving a reverse stock split. This decision, made by the board of directors on October 2, 2026, aims to consolidate the company’s shares in a bid to comply with Nasdaq’s minimum bid price requirement.
The reverse stock split will occur at a ratio of two-for-five, meaning every five shares will be combined into two. This move is intended to raise the per-share price above the $1.00 threshold required for continued listing on Nasdaq, as stipulated by Nasdaq Listing Rule 5550(a)(2).
Background
Axonex AI Group Ltd, classified under the SIC code 7389, provides business services and is traded on the Nasdaq under the ticker symbols AXNX and MIMI. The company was formerly known as Mint Inc Ltd until its name change on October 24, 2023. Its business address is located in Lai Chi Kok, Kowloon, Hong Kong.
What the Filing Says
According to the recent SEC filing (accession number 0001213900-26-110831), the reverse stock split will reduce the number of outstanding Class A Ordinary Shares from approximately 15.2 million to about 6.1 million. The filing states, “The Reverse Stock Split is intended for the Company to regain compliance with a minimum bid price of $1.00 per share for continued listing on Nasdaq.”
The filing also notes that no shareholder vote is required for this action, as the board is authorized to effect the reverse stock split without seeking shareholder approval.
Impact
This reverse stock split may affect existing shareholders by altering their shareholdings and could impact market perception of Axonex AI Group. The company aims to stabilize its stock price and improve its standing within the competitive landscape of business services, where it operates alongside other firms in the sector.
What's Next
The new Class A Ordinary Shares will begin trading on a post-split basis on October 22, 2026. The filing does not specify any further actions that will follow this announcement.