NeuroOne Medical Technologies Announces Reverse Stock Split to Maintain Nasdaq Listing

NeuroOne Medical Technologies Corporation announced it will effect a 1-for-6 reverse stock split of its common stock, with the action becoming effective at 5:00 p.m. Eastern Time on April 15, 2026. The company's common stock is expected to begin trading on a split-adjusted basis at the opening of the market on Thursday, April 16, 2026, continuing to trade on the Nasdaq Capital Market under the symbol "NMTC" with the new CUSIP number, 64130M308. This corporate action represents a critical step in the company's plan to regain compliance with the minimum bid price requirement for continued listing on the Nasdaq Capital Market, addressing regulatory concerns about its stock valuation.

The reverse stock split was approved by the company's stockholders at its 2026 annual meeting held on April 3, 2026, authorizing the Board of Directors to implement a ratio within the range of not less than 1-for-2 and not more than 1-for-15. Subsequently, the Board of Directors approved the specific 1-for-6 ratio, meaning every 6 shares of the company's common stock issued and outstanding will be automatically converted into one share of common stock. The par value per share will remain at $0.001, and the authorized number of shares of common stock will not change, maintaining the fundamental equity structure while adjusting the share count.

Fractional shares will not be issued in connection with the reverse stock split, with stockholders who would otherwise be entitled to receive a fractional share instead receiving a cash payment. The company emphasized that the reverse stock split will affect all stockholders uniformly and will not alter any stockholder's relative interest in the company's equity securities, except for adjustments related to fractional shares. Additionally, proportionate adjustments will be made to the number of shares underlying, and the exercise or conversion prices of, the company's outstanding stock options, and to the number of shares of common stock issuable under the company's equity incentive plans, ensuring consistency across all equity instruments.

The importance of this announcement lies in its implications for NeuroOne's continued presence on a major stock exchange. Maintaining Nasdaq listing provides the company with enhanced visibility, credibility, and access to capital markets, which are crucial for funding its ongoing medical technology development. NeuroOne markets a minimally invasive and high-definition/high-precision electrode technology platform with four FDA-cleared product families: Evo® Cortical Electrodes, Evo® sEEG Electrodes, OneRF® Ablation System (for brain), and OneRF® Trigeminal Nerve Ablation System. These medical devices, detailed on the company's website at https://nmtc1.com, offer combination diagnostic and therapeutic functions with the potential to reduce hospitalizations, lower costs, and improve patient outcomes for neurological disorders.

Beyond its current product offerings, the company is engaged in research and development for drug delivery and spinal cord stimulation programs, indicating a broader strategic vision for neurological treatment innovation. The reverse stock split represents a financial maneuver to address regulatory requirements while the company continues its core mission of transforming surgical diagnosis and treatment of neurological disorders. The timing of this corporate action, coming shortly after stockholder approval, demonstrates the company's proactive approach to maintaining compliance with exchange requirements while focusing on its medical technology objectives.